Phenol Weekly Report 19 Aug 2017

Weekly Price Trend: 14-08-2017 to 18-08-2017

• 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 remained firm and at the end of the week were assessed at the level of Rs. 66/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.66/Kg for bulk quantity. Prices have remained firm.
• CFR India prices for this week were assessed in the range of USD 915-935/MTS, prices have remained firm in compared to last assessed values.
• As per report, EU phenol imports increase, exports up in June.
• Presently phenol market is moving with firm velocity noi major deals and discussion has been heard.
• This week oil prices have varied and on Thursday oil prices rose as renewed attention were put on U.S. oil stockpile declines at Cushing, the delivery hub for U.S. crude futures.
• On Thursday, closing crude values have increased.WTI on NYME closed at $47.09/bbl, prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.76/bbl in compared to last trading and was assessed around $51.03/bbl.
• Market players are anticipating that crude oil prices to trade sideways on the back of short covering after drop in prices. As per market predictors, the oil market has experienced a high level of disruptions to crude supply in recent years. Prices could spike above $70 a barrel if recently restored production in Nigeria and Libya falls again. But it could also sink below $40 if disruptions elsewhere in the world get resolved, putting more crude oil into the market.
• Moreover, OPEC reported its production continued to rise despite its supply quota deal with Russia. Analysts remain unconvinced that OPEC can re-balance the global oil markets without full participation from all cartel members.
• East China petroleum benzene prices fall.
• Benzene inventories along eastern China increase to 128,300 tonnes.
• This week feedstock benzene prices have plunged with the plunge in oil prices.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 755/mt and USD770/mt respectively.

$1 = Rs. 64.14
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45