Phenol Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

• 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 plunged and at the end of the week prices were assessed at the level of Rs. 108/Kg for bulk quantity.

Total import at various ports of India April, 2018

Above graph represents the imported quantity of Phenol for the month of April, 2018. Last month total imported quantity was around 28786mt.

 Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.108/Kg for bulk quantity. Prices have plunged.
• CFR India prices for this week were assessed in the range of USD 1410-1430/MTS, prices have plunged in compared to last assessed values.
• Benzene inventories at shore tanks along eastern China increased.
• US domestic phenol supply is tightening as producers look to increase volumes into the export market.
• Phenol supply in Asia will be limited in Q2 on account of plant turnaround in Thailand and China.
• As per report,Thai producer PTTGC and Singapore-based Mitsui Phenol Singapore have shut its plant from April-June this will limit supply in southeast Asia.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 880/mt respectively.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
• As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
• Several banks have in recent days raised their oil price forecasts, citing tighter supplies and strong demand. Shell said it was halting crude exports from a major Nigerian pipeline.

 $1 = Rs. 68.00
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95