Phenol prices remained quite in the last week of October on back of limited supply. Manu traders believe that traders from China are looking for export of the material to European market. The leading manufacturer of Phenol Ineos Phenol has shut down its unit in Germany and Belgium due to drying of river Rhine.
China market is facing bulk supply of Acetone and looking for export to European market. In case of Phenol, prices were quite high in the last weeks of October with limited and short domestic supply.
Many China based domestic units were shut down in the month of October for maintenance schedule. Sinopec Yanshan has shut down its no2 unit and will remain off-stream till November end. The Sinopec Gaogiao has also shut down its Phenol unit and will resume production by third week of November.
