Phenol Weekly Report 2 June 2018

Weekly Price Trend: 28-05-2018 to 01-06-2018

• 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 increased and at the end of the week prices were assessed at the level of Rs. 110/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.110/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1410-1430/MTS, prices have remained firm in compared to last assessed values.
• As per report, upcoming Phenol trade prices will go up on increase in feedstock prices, said by market players.
• As per report, The Europe and US June phenol contract prices up on increase in upstream benzene.
• This week East China benzene inventories plunged.
• This week benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 855/mt and USD 850/mt respectively.
• This week oil prices have remained mixed. On Thursday U.S. crude prices sank after a brief rally in the previous session, but as per analysis the recent slump in oil prices won't last much longer.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $67.04/bbl; prices have decreased by $1.17/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.09/bbl in compared to last trading and was assessed around $77.59/bbl.
• Oil prices were already heading lower on recent reports that OPEC, Russia and several other producer nations could soon begin winding down their 17-month-old deal to cap output. That agreement has drained a global glut of oil and helped balance the market, but it's now under review due to falling Venezuelan output and renewed U.S. sanctions against Iran.
• Market players said that supply and demand in the oil market are finely balanced, and surging U.S. output might not be enough to offset supply disruptions in Venezuela and Iran.
• Oil market fundamentals and OPEC policy could support oil at around $70 a barrel or higher.

 $1 = Rs. 67.05
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95