Phenol Weekly Report 13 Jan 2018
Weekly Price Trend: 08-01-2018 to 12-01-2018
- 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 fluctuated minutely and at the end of the week were assessed at the level of Rs. 103/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.103/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 decreased in compared to last assessed values.
- This week phenol market has remained soft while feedstock benzene prices have increased.
- Taiwan’s TPCC restarts Kaohsiung phenol/acetone unit.
- US Jan phenol contracts expected lower as benzene prices have remained firm.
- This week crude oil prices have followed up velocity. On Thursday Brent crude oil hit a more than three-year high breaking through the psychologically important $70 a barrel level for the first time since December 2014.
- On Thursday, closing crude values have increased. WTI on NYME closed at $63.80/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $69.26/bbl.
- Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension.
- Feedstock benzene prices have increased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 895/mt respectively.
$1 = Rs. 63.61
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80.
