Phenol Weekly Report 18 March 2017

Weekly Price Trend: 13-03-2017 to 17-03-2017

• 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 decreased and at the end of the week were assessed at the level of Rs. 72/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.72/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 1090-1110/MTS, prices have decreased in compared to last assessed values.
• Recently Phenol market is moving with dull velocity from very long constantly prices are moving towards downward velocity.
• Some market players have said that material is available in good quantity but demand sentiments have been bearish.
• As per some market players recent upcoming market outlook will be bearish some players are anticipating that prices will go down in near term.
• This week oil prices have followed mixed trend. On Thursday oil prices have plunged after a big increase as rising output from the U.S. remained a threat to efforts by other major producers to rebalance the market. Oil prices continued to find some support Wednesday prices showing the drop in U.S. crude supply in, as well as weaker dollar in the wake of the Federal Reserve’s less-hawkish-than-expected rate announcement.
• As per report, Global oil inventories rose for the first time in six months in January, despite the OPEC agreement. Iraq is planning to boost output later in the year even as the OPEC member reaffirmed its commitment to the group’s decision to cut production to counter a global glut.
• Some market players have said t hat in near term crude oil prices to trade positive on the back of surprise drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.75/bbl, prices have decreased by $0.11/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $51.74/bbl.
• Presently market demand for phenol has been lower and material is available in good amount which has resulted in plunge in prices.
• Recently feedstock benzene prices have plunged as demand has been dull form very long.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 800/mt and USD 810/mt respectively.

$1 = Rs. 65.46
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50