Phenol Weekly Report 17 June 2017

Weekly Price Trend: 12-06-2017 to 16-06-2017

• 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 increased 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 increased.
• CFR India prices for this week were assessed in the range of USD 920-940/MTS, prices have remained firm in compared to last assessed values.
• South Arabia’s Petro Rabigh eyes on-spec phenol at new plant in July.
• Singapore May petchem exports grow 19.3% on year.
• This week oil prices have followed volatile trend and on Thursday oil market has closed on downward note. This week the global oil market have remained awash in surplus oil, rising U.S. crude production and weak domestic gasoline demand kept pressure on prices.
• As per report, the outlook for the energy market will remain bearish. OPEC’s agreement with non-OPEC members “remains brittle as none of those participating are happy about the arrangement. In the U.S., the trend of rising production remains strong while gasoline demand has been soft so oil production is expected to continue to rise steadily this summer. High exports and production from other countries, including Russia and the United States, are also contributing to the ongoing glut.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $44.46/bbl, prices have decreased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $46.92/bbl.
• This week upstream benzene prices have increased on improved demand sentiments from end users.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD785/mt respectively.

$1 = Rs. 64.42
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.50