China's Lihuayi Weiyuan Chemical has increased its ex-works phenol offer by Yuan 100/mt ($16.24/mt), or 1%, to Yuan 10,400/mt on Monday, a company source said.
The offer is equivalent to $1,335.31/mt on an import parity basis.
The company last adjusted its phenol offer on Friday, when it increased it by Yuan 200/mt, the source said Monday.
Lihuayi is offering acetone at Yuan 8,600/mt or $1,111.66/mt on an import parity basis on Monday, up Yuan 50/mt or 0.6%. The source said the company had raised domestic prices throughout last week, without elaborating on the details.
According to the source, the phenol and acetone market in China is firming due to a 20-day turnaround at a local plant, which has tightened supply. Further details are not known.
Lihuayi's plant in Lijin county, Shandong province, meanwhile, is operating at full capacity currently and there are no turnaround plans for the unit this year, the source said.
The plant is able to produce 220,000 mt/year of phenol and 135,000 mt/year of acetone.
