Phenol Weekly Report 02 Dec 2017

Weekly Price Trend: 27-11-2017 to 01-12-2017

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given weekly price trend it can be observed that this week domestic market prices of Phenol have increased sharply and at the end of the week were assessed at the level of Rs. 91/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.91/Kg for bulk quantity. Prices have increased sharply.
• CFR India prices for this week were assessed in the range of USD 1240-1260/MTS, prices have increased in compared to last assessed values.
• Presently Phenol prices have increased sharply on higher demand sentiments and shortage of supply.
•  Sinopec hikes east China, phenol offers as per report.
• CNOOC and Shell Petchem expected to start phenol ops in Feb 2018.
• China phenol import deal done at $1,200/tone.
• This week crude oil prices have followed mixed trend. On Thursday oil prices have escalated OPEC members, Russia and nine other producers agreed to extend a deal to limit their production through 2018.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.40/bbl; prices have decreased by $0.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.46/bbl in compared to last trading and was assessed around $63.57/bbl.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 885/mt respectively.

 $1 = Rs. 64.46
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50