Phenol Weekly Report 08 July 2017

Weekly Price Trend: 03-07-2017 to 07-07-2017

• 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 remained firm and at the end of the week were assessed at the level of Rs. 68/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.68/Kg for bulk quantity. Prices have remained firm.
• CFR India prices for this week were assessed in the range of USD 925-945/MTS, prices have increased little bit in compared to last assessed values.
• This week international market of phenol has increased minutely.
• Japan’s Mitsui Chemicals plans to shut its Chiba phenol/acetone plant in Oct.
• S Korea's Kumho P&B plans Q4 turnaround at phenol/acetone units.
• Thailand's PTT Phenol raises ops at new phenol/acetone unit
• This week oil prices have followed volatile inclination. On Thursday oil prices closed on slightly up note after a sharp but short-lived boost from a much bigger-than-expected decline in U.S. inventories of crude oil and gasoline. WTI on NYME closed at $45.52/bbl, prices have increased by $0.39/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.32/bbl in compared to last trading and was assessed around $48.11/bbl. Market players said the surge was driven by traders closing out short positions, or bets that oil prices would fall.
• There's a lot of bearishness out there now the market is still believing supplies are not going to be in balance globally. Investors believe the OPEC will need to make further output cuts to offset thriving shale production in the United States.
• U.S. gasoline stocks dropped 3.7 million barrels in the most recent week, far exceeding the expected drop of 1.1 million barrels. Still, gasoline inventories remain about 6 percent above seasonal averages, so investors will watch for July data to see if demand is strong enough to whittle down stocks.
• Benzene inventories along eastern China rise to 108,500 tonnes.
• China's benzene imports fall by 29.4% month on month in May
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720/mt and USD750/mt respectively.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 750/mt and USD765/mt respectively.

$1 = Rs. 64.59
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95