Hamburg, Germany: Throughout March xxxx, the prices of Phenol have demonstrated a bullish trend across the European market. The escalation in prices of upstream Benzene, coupled with bullish Crude Oil prices, has led to an increase in the manufacturing costs of Phenol. In addition, the reduced operating rates of the manufacturing firms in the previous quarters have also started to exert supply-side pressure on the Phenol market.
The ChemAnalyst database has shown that the prices of Phenol witnessed an increment of USD xx per ton in the domestic market of Germany in the week ending xxth March compared to the prices observed at the start of the month. In recent weeks, the price of benzene, a crucial ingredient in production processes, has sharply increased, reflecting a broader trend in the regional market of constrained supply. Market players have therefore been keeping phenol prices at higher levels to...
