Texas, USA: The US Phenolic Resin market continued to demonstrate weakness in February xxxx due to weak supply and demand fundamentals. Throughout February, the prices of Phenolic Resin decreased in the US domestic market owing to sluggish demand from the downstream adhesives and coatings industries.
During the freezing weather in various parts of the USA, business operations were disrupted, leading to the temporary closure of numerous manufacturing facilities for the same reason, thereby leading to decreased procurement of Phenolic Resin. As of February xx, xxxx, the prices of Novolac Phenolic Resin FOB Louisiana were assessed at USD xxxx/MT.
Additionally, the shipping time increased due to ongoing supply disruptions in the Middle East, resulting in containers being diverted from the Cape of Good Hope, thereby increasing the delivery time of various cargoes, including raw materials for Phenolic Resin. Along with this, freight charges across various...
