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The Phenol price showcased a marginal rise during the first quarter of 2022 in North America. Firm demand from the importing countries for Phenol derivatives with its applications in downstream cosmetics, automotive industries led to a gradual increase in the price trend. Besides the increased demand, reroute in shipments owing to the Russia-Ukrainian conflict led to delayed supplies in the international market. Furthermore, container freight rates were recorded high as the shortage of cargoes persisted in the US. Also, the skyrocketed upstream crude oil value has affected the feedstock Benzene which sequentially supported this upward price trajectory of Phenol across the region. Thus, the prices settled at USD 1410 per MT for Phenol FOB USA in March.

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