Phenol Weekly Report 04 March 2017

Weekly Price Trend: 27-02-2017 to 03-03-2017

• 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 decreased and at the end of the week were assessed at the level of Rs. 81/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.81/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 1120-1140/MTS, prices have decreased in compared to last assessed values.
• Presently market demand for phenol has been lower and material is available in good amount which has resulted in plunge in prices.
• Recently feedstock benzene prices also have plunged.
• Oil prices have followed fluctuating trend during the week. Oil prices headed lower on Thursday to log their lowest finish in about three weeks, as U.S. government data showed that domestic crude inventories hit a record and production edged higher last week.
• As per market source the high crude stockpile levels in the U.S. is the number one reason behind oil’s recent inability to climb. On Friday oil prices jump as he United States imposed sanctions on some Iranian individuals and entities.
• The increasing U.S. crude output in recent months has largely offset the continuing production cuts by the OPEC and Russia are keeping prices in a slim range, said by analysts.
• Market predictors anticipating that the respite to continue for more weeks with the next major price mover likely to be OPEC’s meeting at the end of May in which members will decide whether to extend the cuts beyond the initial six-month period.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $52.61/bbl, prices have decreased by $1.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.28/bbl in compared to last trading and was assessed around $55.08/bbl
• FOB Korea and CFR China prices of Benzene were evaluated at USD 915/mt and USD 950/mt respectively.

$1 = Rs. 66.81
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00