Market trend: last week, the domestic phenol market experienced a rational callback after a big rise. As of the end of last week, the closing price in East China was 5700 yuan / ton, in Shandong and South China was 6000 yuan / ton, and in surrounding areas of Yanshan was 6200 yuan / ton. Since April 13, phenol has been driven by the strong cost side, the supplier’s mentality has improved, and the price has been raised actively. Most of the production enterprises have increased the opening price, but the terminal demand is not good. After the high price stays for a short time, the price has declined. Under the high price resistance of the downstream factories, the buying interest slows down, and the East China market takes the lead in weakening. During this period, there are many low profit making opportunities, such as low center of gravity, and insufficient trading and investment follow-up 。

In terms of crude oil, there are concerns about oversupply and shortage of inventory capacity. WTI futures settlement price in recent months fell to the lowest point since January 2002 and fell to the lowest point since November 2001. On Friday (April 17), New York Mercantile futures exchange West Texas light oil futures settlement price in May 2020 was $18.27 per barrel, down $1.60 or 8.1% from the previous trading day, with a trading range of 17.31-20.22 Dollars.