Texas, USA: In January xxxx, the phenolic resin market in the USA exhibited a bearish outlook, with prices consistently decreasing on a week-on-week basis over the past few months. This downward trend is predominantly driven by subdued demand for phenolic resin from downstream industries. The current market situation suggests that the reduction in product procurement frequency is linked to an oversupply scenario in the consumer market, coupled with a low consumption rate of resins, including phenolic resin.
In the United States, the prices of phenolic resin experienced a week-on-week decline. As of January xx, xxxx, the assessed prices of Novolac Phenolic Resin FOB Louisiana stood at USD xxxx/MT, reflecting a decrease of x.xx. Cumulatively for the month, prices recorded a significant drop of over xx.xx. This decline is attributed mainly to weak demand from downstream sectors such as adhesive, coatings, molding, and insulation, both in the domestic...
