Phenol Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• 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. 79/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.79/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 1100-1120/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.
• This week oil prices have tumbled. In five days duration US oil prices have plunged around 7.5% while Brent oil have decreased 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• As per report, declining oil prices have helped U.S. and global energy companies get back into the investing but analyst said that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players anticipate that OECD oil stocks to decline significantly this year helped by the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
• In US market benzene prices plunged and oil prices also have declined which has supported to decline in phenol prices.
• Recently feedstock benzene prices also have plunged as demand has been dull form very long.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 870/mt respectively.

$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00