Entering May, the pricing trend for Phenol in Europe has been bearish reflecting a decline in spot prices and overall market activity. Market participants observed that the recent transactions have been settled at a lower price level continuing a downward trend that has been evident throughout April. This decline in prices was indicative of a broader subdued market sentiment that has persisted into early May.
The Phenol market has also been affected by a series of public holidays in Europe such as Labour Day which led to extended breaks for many market participants. These holidays caused a temporary halt in trading activities resulting in lower demand. With many buyers and suppliers taking time off the market saw reduced transactions further weakening Phenol prices. Upon entering May the demand remained lower than expected adding to the bearish sentiment.
Additionally, the European...
