Phenol Weekly Report 09 Sep 2017

Weekly Price Trend: 04-09-2017 to 08-09-2017

• 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. 74/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.74/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 950-970/MTS, prices have increased in compared to last assessed values.
• As per report, China’s Sinopec raises its phenol prices by CNY300/mt as demand sentiments have improved in the region.
• US Olin shuts down Texas phenol/acetone plant.
• Phenol prices in Asia continued to increase, on account of tightening of supply due to tropical storm.
• This week feedstock benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 805/mt and USD 820/mt respectively.
• This week oil prices have followed mixed trend. Oil futures eased on Thursday on a slightly bigger-than expected U.S. crude inventory build as the restart of U.S. refiners after Hurricane Harvey was being countered by the threat of Hurricane Irma.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $49.09/bbl, prices have decreased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.29/bbl in compared to last trading and was assessed around $54.49/bbl. As per market players supplies of crude remained sufficient to meet demand.

$1 = Rs. 63.78
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.25