Phenol Weekly Report 15 April 2017

Weekly Price Trend: 10-04-2017 to 14-04-2017

• 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. 77.5/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.77.5/Kg for bulk quantity. Prices have remained firm.
• CFR India prices for this week were assessed in the range of USD 1040-1060/MTS, prices have increased in compared to last assessed values.
• This week domestic phenol prices have increased as oil prices and feedstock prices also have increased.
• As per report, Europe phenol supply and demand balance remains steady.
• As per report, some players in the market expecting the large drop in the April benzene and phenol contract.
• This week oil prices oil prices have followed little volatility but overall it was strong week for crude. On Thursday that supply and demand in the global oil market were close to matching after a fall in stockpiles in developed countries in March.
• As per report, the market has been oversupplied for three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• U.S. production to continue rising, both onshore and offshore, which will act as a headwind for the market.
• As per market analyst, refinery runs are picking up, and driving season is around the corner, so inventories will start going down soon. Amid so much uncertainty, the only thing that is certain is that crude oil production is growing, and there are no signs that this will change while the going is good and prices stay above $50 a barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.18/bbl, prices have increased by $0.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $55.89/bbl.
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• Recently feedstock benzene prices have increased as demand sentiments are improving.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD 855/mt respectively.

$1 = Rs. 64.41
Import Custom Ex. Rate USD/ INR: 65.90
Export Custom Ex. Rate USD/ INR: 64.20