Phenol Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017

• 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 plunged and at the end of the week were assessed at the level of Rs. 66/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.66/Kg for bulk quantity. Prices have remained firm.
• CFR India prices for this week were assessed in the range of USD 915-935/MTS, prices have increased in compared to last assessed values.
• China phenol import prices remained firm deal done around USD 870-890/mt.
• US June phenol exports increase 67% year on year.
• Asia acetone/phenol producers mull cuts in run rate.
• This week crude oil prices have followed volatile trend and on Thursday market closed on weak note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Currently phenol market is moving with soft-stable velocity no major deals and discussion has been heard.
• Feedstock Benzene inventories in eastern China drop after seven-week run-up, as per source.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.

$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85