Phenol Weekly Report 12 May 2018

Weekly Price Trend: 07-05-2018 to 11-05-2018

• 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 plunged and at the end of the week prices were assessed at the level of Rs. 107/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.107/Kg for bulk quantity. Prices have plunged.
• CFR India prices for this week were assessed in the range of USD 1490-1510/MTS, prices have remained firm in compared to last assessed values.
• China's Yangzhou Shiyou restarts its phenol/acetone plant.
• This week phenol prices have plunged on bearish buying sentiments from end users.
• US President Donald Trump’s decision to pull out of the 2015 nuclear deal with Iran will have a lot of consequences for the global chemical industry, as well as for Iran’s domestic sector.
• This week with the little volatility oil prices have escalated sharply. On Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $69.06/bbl; prices have decreased by $1.67/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.32/bbl in compared to last trading and was assessed around $74.85/bbl.
• The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after dump an agreement reached in late 2015 which limited Tehran's nuclear ambitions in exchange for removing U.S.-Europe sanctions.
• As per analysts oil prices to rise to $80-$100 per barrel later this year, once U.S. sanctions start to bite and Iran's exports start sinking. Market players said that OPEC will step up output in order to counter the Iran disruption."The market is now focused on OPEC and other producers' ability to react to this potential supply disruption,"
• This week Feedstock Benzene prices in east China rose due to profit gains in downstream sectors.
• Benzene inventories along eastern China slightly higher.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 855/mt respectively.

 $1 = Rs. 67.33
 Import Custom Ex. Rate USD/ INR: 67.50
 Export Custom Ex. Rate USD/ INR: 65.80