Phenol Weekly Report 18 Jan 2019

Weekly Price Trend: 14-01-2019 to 18-01-2019

• 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 it can be observed that this week domestic prices decline for this week.
• By end of the week prices were assessed at the level of Rs. 87/Kg for bulk quantity. 

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.87/Kg for bulk quantity. Prices reduced significantly for this week.
• CFR India prices for this week were assessed in the range of USD 1300-1320/MTS, reduced by USD 20 /MTS for this week.
• Benzene FOB Korea prices increased heavily for this week. FOB Korea values were assessed around USD 561/MT. On other side CFR China prices were assessed around USD 582/MT for this week. 
• Oil prices remained vulnerable throughout this week. With concerns over surging in crude production lacklustre in demand crude prices declined on Thursday. The scenario was completely different on Friday.
• On other side OPEC has also cut down its production significantly for this month. Even as OPEC and allied exporters cut production, however, U.S. output has surged close to 12 million bpd in the latest week, and some traders and investors are concerned that growth in global supply this year will outpace demand.
• OPEC cut oil output sharply in December before a new accord to limit supply took effect on Jan. 1, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. 

PLANT NEWS

Phenol/Acetone unit restarted by Huizhou Zhongxin Chemical

• China based Huizhou Zhongxin Chemical has restarted its Phenol/Acetone unit. Earlier the unit was shut down last week on back of planned maintenance.
• Unit is based at Huizhou province of China and has the production capacity 183,000 tonnes/year of Phenol and 118,000 tonnes/year of Acetone respectively. 

Hanwha Total to shut down its cracker for its maintenance

• Hanwha Total Petrochemical is planning to shut down its cracker maintenance turnaround. The company will shut down its unit in the month of March and date has not been specified yet. The shutdown duration will also include the expansion of existing capcity and may last for 40-45 days.
• Unit is based at Daesan and has the production capacity of ethylene around 1.09 million mt/year and propylene capacity of 640,000 mt/year.

$1 = Rs. 71.12

Import Custom Ex. Rate USD/ INR: 72.10

Export Custom Ex. Rate USD/ INR: 70.40