Import prices of phenol from China have increased due to tight supply on account of shutdowns at major domestic plant.CFR China Phenol prices were evaluated in the range of USD 1400-1450/MT.As per report, from the Middle East, the US and EU – accounted for around 40% of China’s total phenol imports; while Asia-origin cargoes from South Korea, Japan and Thailand accounted for 50% of the total. As per market source, China’s demand for phenol is likely to increase and underpin firm prices in the near term, due to expansion of downstream facilities. These include China Petrochemical Development Corp’s (CPDC) 150,000 tonne/year Cyclohexanone unit, which is expected to start up toward year end. Other downstream sectors may not be able to absorb the high prices, and may cut phenol consumption to reduce operating rates. Some market players have said that for upcoming market outlook market players have to observe market trends after the Golden week in October
