Phenol Weekly Report 14 April 2018

Weekly Price Trend: 09-04-2018 to 13-04-2018

• 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 remained firm and at the end of the week prices were assessed at the level of Rs. 101/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.101/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1340-1360/MTS, prices have increased in compared to last assessed values.
• China’s phenol, acetone combined output falls by 3.6% in March.
• Sinopec raises east China phenol offer.
• China is planning to impose more antidumping duties on chemical imports this year due to increasing trade tensions with the US.
• Oil prices have escalated through the week but on Thursday prices have remained mixed.
• On Thursday, closing crude values have mixed. WTI on NYME closed at $67.07/bbl; prices have increased by $0.25/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $72.02/bbl.
• Oil markets remained tense on Thursday on concerns over a military escalation in Syria, although prices were some way off Wednesday's late-2014 highs as bulging U.S. supplies weighed. A trade dispute between the United States and China also kept markets on edge.
• Crude oil prices settled at three-year highs amid ongoing expectations that geopolitical tensions in the Middle East could add a possible ‘fear premium’ to oil, while continued OPEC cuts supported sentiment.
• If the U.S. does indeed launch missiles at Syria, this would heighten risk and likely at once push crude oil higher and depress equities further.
• Benzene stock at shore tanks along eastern China plunged to 199,600 till13 April.
• Feedstock Benzene inventories at shore tanks along eastern China increased.
• Feedstock benzene prices have firm in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 835/mt respectively.

 $1 = Rs. 65.20
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20