Phenol Weekly Report 13 May 2017

Weekly Price Trend: 08-05-2017 to 12-05-2017

• 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 remained firm and at the end of the week were assessed at the level of Rs. 69/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.69/Kg for bulk quantity. Prices have plunged.
• CFR India prices for this week were assessed in the range of USD 920-940/MTS, prices have decreased in compared to last assessed values.
• CEPSA China runs its phenol plant at 60-70% after restart.
• As per report, AdvanSix completes US phenol turnaround.
• South Korea’s Kumho maintains phenol plant at below 40%.
• Presently market is moving with soft rapidity, no major deals and discussion has been heard.
• This week oil prices have followed up inclination with minute plunge. Last week U.S. crude stockpiles posted their biggest drawdown since December as imports dropped sharply, while inventories of refined products also fell, helping boost oil prices that have been weighed down by concerns about oversupply.
• On Wednesday oil prices began looking higher after a string of positive data on oil stocks in the US helped to improve the market mood.
• As per report, a bigger than expected drop in oil and fuel stocks received the initial bullish attention. Adding to the positive tone was the reduction in imports.
• According to report a large part of the excess supply overhang contained in floating storage facilities has been reduced and the improvement in the world economy will help support oil demand too.
• However, continued rebalancing in the oil market by year-end will require the collective efforts of all oil producers to increase market stability, not only for the benefit of the individual countries, but also for the general prosperity of the world economy, As per report.
• Opec is due to meet later this month in the hope of striking a second deal to secure a year of production cuts. The twelve member states will be joined by Russia, but US production remains a concern.
• On Thursday, closing crude values have increased.WTI on NYME closed at $47.83/bbl, prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.55/bbl in compared to last trading and was assessed around $50.77/bbl.
• This week feedstock benzene prices have plunged.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720mt and USD735/mt respectively.

$1 = Rs. 64.30
Import Custom Ex. Rate USD/ INR: 65.10
Export Custom Ex. Rate USD/ INR: 63.40