24 October 2012 08:19 [Source: ICIS news]
Both producers reduced their phenol prices by yuan (CNY)100/tonne ($16/tonne) to CNY10,800/tonne EXW (ex-works), effective immediately.
The latest phenol price cut was the producers’ third phenol price reduction in October prompted by the ongoing slow demand and rising supply, following the 6 October commissioning of Shandong Lihuayi’s new phenol/acetone plant.
Meanwhile, the producers raised their acetone prices by CNY200/tonne to CNY8,100/tonne EXW.
Additional reporting by Trisha Huang
($1 = CNY6.25)
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