Hamburg (Germany): For the past two weeks, Phenol prices in the domestic market of Germany have shown an upward trend, largely influenced by the increasing prices of its upstream raw material, benzene. This rise is primarily driven by the strengthening of international crude oil prices. However, demand from the downstream construction industries has remained average, leading to moderate procurement of Phenol.
According to the ChemAnalyst Database, Phenol prices increased by USD xx per ton in the week ending May xxth. Regarding energy inputs, there is an expectation of a decline in crude oil stocks for several months starting in June. This decrease is due to a seasonal increase in global demand, estimated at x.x million barrels per day from April to August. Additionally, extended production cuts by OPEC+ and ongoing conflicts in the Middle East and Ukraine could contribute to geopolitical price premiums, potentially leading to further...
