October saw continued price declines in the global Phenol markets, driven by weak downstream demand, oversupply, and falling benzene prices across Asia, U.S., and Europe. Phenol prices have declined in October, partly driven by fluctuations in crude oil prices. While crude oil initially rose, a subsequent drop, alongside market uncertainties, pressured feedstock benzene prices lower, contributing to reduced Phenol costs and weakening market demand.
In China, Phenol prices fell further as benzene prices weakened and supply increased from both the Middle East and domestic producers within China. The prices of Phenol CFR Qingdao dropped from USD xxxx/MT to USD xxx/MT in October xxxx, with increased domestic production and ample imports contributing to the bearish market sentiment. The downstream bisphenol-A (BPA) market, facing oversupply and weak demand, also saw price reductions. Export offers from China have decreased, as excess material from upstream producers has impacted pricing. Taiwanese producer...
