Phenol Weekly Report 17 Feb 2018

Weekly Price Trend: 09-02-2018 to 16-02-2018

• 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 increased and at the end of the week were assessed at the level of Rs. 93/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.93/Kg for bulk quantity. Prices have plunged.
• CFR India prices for this week were assessed in the range of USD 1220-1240/MTS, prices have remained firm in compared to last assessed values.
• This week Phenol prices have plunged as material is available in ample amount while demand has been bearish.
• Phenol market is moving with soft velocity ahead on Lunar New Year holiday in China.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 890/mt and USD 905mt respectively.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $61.34/bbl; prices have increased by $0.74/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 $64.33/bbl.
• On Friday Oil prices edged higher as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.
• As per market players, Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production.

 $1 = Rs. 64.21
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85