Last week the domestic market of Phenol had followed downward trend at Kandla port due to fall in the prices of feedstock Benzene and prices of Phenol were assessed at the level of Rs. 70/Kg, with a fall of Rs. 0.50-1/Kg. At the end of the previous week the prices of Phenol had significantly increased due to less of import in the market and were assessed at the level of Rs. 64/Kg, with a rise of Rs. 4/Kg at Kandla port.
This week the domestic market of Phenol had opened with Rs. 70/Kg and has now declined to Rs.69/Kg. The reason for this lowering has been the heavy inventories at the west coast of the country. Huge amount of material has arrived in turn leading to abundant supply incurring heavy losses to the importers.
Domestic manufacturer SI group has also cut down its Phenol prices. The new reduction has been around of Rs.3/Kg with fresh prices of Rs.76/Kg for bulk quantity.
