Phenol Weekly Report 02 Sep 2017

Weekly Price Trend: 28-08-2017 to 01-09-2017

• 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 and at the end of the week were assessed at the level of Rs. 71.5/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.71.5/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 930-950/MTS, prices have increased in compared to last assessed values.
• Phenol prices in Asia continued to increase, on concerns over a possible tightening of supply due to tropical storm.
• Heavy rains and floods has led to shutdown of major refineries in US gulf coast. Housston is regarded as hub for refineries and petrochemical plants.
• Several more companies have shut down plants as precautionary measures to Harvey impacts or have had production issues as a result of severe weather and flooding.
• Feedstock benzene prices have increased on account of this Phenol prices also have escalated.
• As per report, near term demand from benzene and for phenol will go up which leads to increase in prices.
• Benzene stock at east China has plunged to 124000mt, As per report.
• This week feedstock benzene prices have increased with the shortage of supply.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 805/mt and USD820/mt respectively.

$1 = Rs. 64.02
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45