ICIS, an information service provider for the chemical industry, has enhanced its Asia phenol price report by adding a CFR (cost & freight) northeast (NE) Asia price assessment, to better reflect current trading patterns and give a vital benchmark for industry players operating in the region.
Market dynamics within the Asian phenol markets have been slowly shifting due to an increase in China's domestic phenol capacity. Once an import-reliant country, China is now expected to slowly export phenol to neighbouring countries such as South Korea and Taiwan, where a growth in demand is being observed due to downstream expansion.
By adding CFR NE Asia prices to the report, ICIS has widened its geographical pricing coverage, offering increased transparency of deals for exports out of China to growing markets, Taiwan and South Korea.
The newly enhanced ICIS Asia phenol price report now gives a complete picture of the region's trading activity by providing newly added CFR NE Asia import prices; spot prices - CFR China, southeast Asia and India; commentary on trading activity, supply/demand and domestic Indian and Chinese markets; feedstock prices and market updates; and plant and productions news.
