Asian phenol and acetone prices moved in different directions between regions this week, with CFR China phenol increasing amid rising domestic prices in China and CFR India phenol falling as earlier supply tightness eased.
PHENOL: CFR China was assessed up $10/mt week on week at $1,070/mt, with domestic China prices heard increasing by Yuan 100-200/mt over the same period to Yuan 8,600-8,700/mt, equating to $1,045/mt on an import parity basis. Offers were also heard at high levels, with one trader indicating a sell idea at $1,200/mt versus a buyer’s idea at $1,020-$1,030/mt, meaning the negotiation gap was wide this week. A Taiwanese end-user said Chinese end-users did not need to buy imports at the moment and international spot prices remained too high for them. However, a trader said the Chinese market was short on supply. In India, supply tightness was easing after a Middle East plant restarted. Market sources pegged the CFR India import price at $1,180-1,200/mt.
ACETONE: CFR China was assessed down $5/mt week on week at $455/mt as a buy idea was heard at $430-$440/mt versus a tradable indication from a trader at $450-$460/mt. The domestic price in China was heard around Yuan 3,600/mt, equating to $435/mt on an import parity basis. The CFR Southeast Asia and CFR India markers were assessed down $5/mt at $515/mt and $500/mt, respectively, tracking the movement in the CFR China market.