Phenol Weekly Report 15 March 2019

Weekly Price Trend: 11-03-2019 to 15-03-2019

• 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 remained highly vulnerable and has been turbulent for this week.
• By end of the week prices were assessed at the level of Rs. 94/Kg for bulk quantity. Prices have reduced significantly in domestic market. The fall in values is on back of plenty of supply in the domestic market.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.94/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 1240-1260/MTS, with no change in compare to last week’s closing values.
• Benzene the major source for Phenol has also reduced for this week. Benzene FOB Korea prices were assessed at the level of USD 605/MT, reduced by USD 15/MT in compare to last week’s closing values. On other side CFR China prices were assessed at the level of USD 608/MT, slightly reduced by USD 26/MT for this week.
• China based Shiyou Chemical has announced its maintenance schedule for tits Phenol-Acetone unit. The unit will undergo maintenance by March end. Earlier it was scheduled for shut down on 10^th March. Due to some issues the maintenance program has been delayed. It is likely to remain off-stream for around 25-30 days.
• Unit is based at Yangzhou, in Jinagsu province of China and has the production capacity of 220,000 and 130,000 respectively.
• On Thursday, closing crude values have mixed. WTI on NYME closed at $58.61/bbl. Prices have increased by $0.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $67.23/bbl. 

$1 = Rs. 69.09

Import Custom Ex. Rate USD/ INR: 71.00

Export Custom Ex. Rate USD/ INR: 69.30