Phenol Weekly Report 13 March 2020

Weekly Price Trend: 09-03-2020 to 13-03-2020

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given week, prices reduced heavily like all other petrochemicals in global and domestic market.
• Prices were assessed at the level of Rs.71/Kg for bulk quantity, reduced by Rs.4/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.71/Kg for bulk quantity. Prices reduced significantly for this week.
• CFR India prices for this week were assessed in the range of USD 1050-1070/MTS, reduced by USD 40/MTS for this week.
• FOB Korea values for Benzene were assessed around USD 525/MT for this week, reduced by USD 95/MTS for this week while CFR China prices were assessed at the level of USD 545/MT for this week again reduced by USD95/MT for this week.
• Global petrochemical markets crashed this week heavily as Coronavirus declared pandemic. This virus continues to spread in Asian countries. In a major decision, US government has cancelled all its air travel from Europe for 30 days. It has created a major uncertainty for producers, traders and end-users affecting heavily to the Asian market for time being.
• The pandemic has already affected gasoline demand, which affects gasoline blendstocks like mixed xylenes, toluene and MTBE, a source said, adding that if the economic situations does not improve "people will stop buying clothes and pet bottles, which will affect the entire polyester chain."
• Global consumer demand is slowing and this will exacerbate bearish market fundamentals in the methanol market, trade sources said.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $31.50/bbl. Prices have decreased by 1.48/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 2.57/bbl in compare to last closing price and was assessed around $33.22/bbl
• China based Nantong Synthetics Materials has restarted its Bisphenol unit after brief maintenance schedule. Earlier the unit was shut down for brief maintenance. The unit resumed its production last week. Unit is based at Nantong in Jiangsu province of China and ahs the production capacity of 1,50,000 mt/year  

$1 = Rs. 73.89

Import Custom Ex. Rate USD/ INR: 74.25

Export Custom Ex. Rate USD/ INR: 72.55