Hamburg, Germany: Over the past two weeks, the European Phenol market has witnessed a continuous decline in prices, largely driven by reduced inquiries from the downstream construction sector. This decline has noticeably impacted the overall price realization of Phenol in the region. Additionally, recent interest rate hikes, implemented to curb inflation, are further pressuring Phenol market sentiments.
According to data from the ChemAnalyst database, Phenol prices dropped by USD xxx per ton by the week ending xxth April compared to the previous week in the German market. The subdued demand from downstream Bisphenol A industries has resulted in a decrease in the procurement of upstream Phenol. Consequently, manufacturers have adjusted by reducing their offers to adapt to the market conditions. The situation is exacerbated by recent interest rate hikes, which aim to control inflation but have the side effect of further dampening demand. To navigate these challenges,...
