- China's slump continues in prices- India's prices are affected
by selling pressure and low demand





On July 12, phenol prices suffered further
losses on the Chinese domestic market as downstream production rates slow down. According to market participants, domestic
prices in China fell rapidly over the past week, with little support from
regional maintenance. CFR China phenol physical dropped $75-80/mt
week-on-week to $1,300-1,340/mt. The narrowest indication was around
$1,250-1,390/mt for the day. Yuan 9,450-9,600/mt was the Chinese
domestic ex-tank price for phenol. This is a decrease of Yuan 500-550/mt or
$67.91-72.50/mt if you use import-parity. According to
market sources, there weren't many discussions on a CFR China basis. Some
biphenol plants in China saw their run rates drop to 75%-80% while others were
operating at 60%-70%. Due to fluctuations in the exchange rate, the
decline...