U.S. phenolic resin market pricing has continued to come down week-over-week. Demand has been unable to match up with the continually increasing supply of producers, which has made it impossible for prices to stabilize meaningfully.
On the cost side, feedstock phenol and formaldehyde prices continued to weaken. In November, phenol prices fell by around x.xx, while formaldehyde declined by approximately x.xx. These declines reflected ample availability, lower upstream crude oil prices, and muted derivative demand, offering little cost support to phenolic resin producers. The downturn in crude was reinforced by easing geopolitical tensions, slowing domestic consumption, tariff-related headwinds, and rising U.S. crude stocks, collectively reducing feedstock costs and lowering phenolic resin production economics.
Domestic phenolic resin production remained stable, with no major plant outages reported. Manufacturers operated at consistent rates, ensuring sufficient supply for contract obligations and limited spot demand.
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