Phenol Weekly Report 18 Feb 2017

Weekly Price Trend: 13-02-2017 to 17-02-2017

• 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 stable and at the end of the week were assessed at the level of Rs. 90/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.90/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1210-1230/MTS, prices have increased in compared to last assessed values.
• Presently phenol demand is escalating on account of this booking prices have escalated.
• This week with the increase in feedstock prices phenol prices also has been escalated.
• South Korean producer Kumho P&B has had to shut down its two operational phenol/acetone units because of a mechanical problem that occurred.
• Crude prices continue to oscillate in a shifting range as traders considered the conflicting influence of weakening of US dollar. There has been constant high supply in last few weeks along with rising levels in the US crude inventory levels.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday closing, there has been rise in crude values.WTI values increased by USD     0.25/bbl and was assessed around $53.36. On other side there was slight decline in Brent value was observed. Brent crude prices reduced by $0.10/bbl and were assessed around $55.65/bbl.
• Feedstock benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1025/mt and USD 1040/mt respectively.

$1 = Rs. 67.00
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15