Phenol Weekly Report 17 March 2018

Weekly Price Trend: 12-03-2018 to 16-03-2018

• 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. 100/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.100/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1300-1320/MTS, prices have remained firm in compared to last assessed values.
• China's FCFC Ningbo shuts its phenol/acetone unit as planned maintenance.
• As per report, US March phenol contracts prices plunge 1.3% on lower feedstock benzene.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.19/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $65.12/bbl.
• Rising global oil demand, along with supply constraints from the OPEC, has helped keep oil above $60 a barrel.
• As per report, global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018. U.S. oil output hit a record 10.38 million barrels per day. OPEC expects to lose market share as output from non-OPEC nations soars.
• This week feedstock benzene prices also have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 845/mt and USD 855mt respectively.

 $1 = Rs. 64.93
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15