Phenol Weekly Report 03 Feb 2018
Weekly Price Trend: 29-01-2018 to 02-02-2018
- 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 plunged minutely and at the end of the week were assessed at the level of Rs. 93/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.93/Kg for bulk quantity. Prices have plunged.
- CFR India prices for this week were assessed in the range of USD 1460-1480/MTS, prices have plunged in compared to last assessed values.
- This week Phenol prices have plunged as material is available in ample amount while demand has been bearish.
- This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
- On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $69.08/bbl.
- China's Huizhou Zhongxin restarts phenol/acetone plant.
- Benzene inventory in east China declined on account of this prices have escalated.
- Feedstock benzene prices have increased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 930/mt and USD 945mt respectively.
$1 = Rs. 64.06
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85
