Phenol Weekly Report 06 Jan 2018

Weekly Price Trend: 01-01-2018 to 05-01-2018
 

• 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 fluctuated minutely and at the end of the week were assessed at the level of Rs. 106/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.106/Kg for bulk quantity. Prices have remained volatile.
• CFR India prices for this week were assessed in the range of USD 1520-1540/MTS, prices have increased in compared to last assessed values.
• China’s phenol, acetone combined output rises by 5% month on month in Dec.
• South  Korea’s Kumho P&B restarts No. 3 and No.4 Phenol lines.
• This week oil prices have remained little volatile but overall closed on higher note. On Thursday U.S. crude oil prices rise to the highest level in 2½ years as markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.01/bbl; prices have increased by $0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $68.07/bbl.
• As per market analyst, the market is getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC's third largest producer, is also helping to support the price as citizens are again protesting the government.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 890/mt respectively.

 $1 = Rs. 63.37
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.80