- High freight hinders China phenol exports- Mitsui will close Osaka's phenol-acetone plants in Nov- India ex tank falls on slow buying





The Asian Acetone-phenol market
was hit again by weakness. High stockpiles and slow trading continued to dampen
previous recovery. Ex-tank
supplies in East China's domestic phenol market continued to be discussed at
Yuan 10200/mt and lower while pockets of other producers maintained selling
prices at Yuan 10400/mt and slightly higher. Yuan 10,200/mt was the level, which was $1,186.99/mt based
on import parity. CFR China phenol
physical was $1175/mt. This is $20 less week-over-week. Although prices were attractive, market sources indicated
that exporting phenol from China would prove difficult due to high freight
costs. A source close to the company has
confirmed that Mitsui Chemicals, Northeast Asia's major phenol producer, will
shut down its Osaka...