Phenol Weekly Report 20 Jan 2018
Weekly Price Trend: 15-01-2018 to 19-01-2018
- 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 minutely and at the end of the week were assessed at the level of Rs. 98/Kg for bulk quantity.
Total import at various ports of India December, 2017
Above graph represents the imported quantity of Phenol for the month of December, 2017. Last month total imported quantity was around 31763MT.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.98/Kg for bulk quantity. Prices have plunged.
- CFR India prices for this week were assessed in the range of USD 1490-1510/MTS, prices have remained firm in compared to last assessed values.
- Major Chinese producer Sinopec cut its domestic offers for phenol in east China.
- This week Phenol prices have firm as demand sentiment have been firm from end users.
- Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/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 $69.31/bbl.
- As per report, the upside is now limited for oil prices. U.S. oil producers will ramp up production in the coming months. Some traders said that prices were unlikely to fall far due to the OPEC-led curbs and the risk of further disruptions.
- Feedstock benzene prices have increased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 945/mt and USD 940/mt respectively.
$1 = Rs. 63.85
Import Custom Ex. Rate USD/ INR: 64.80
Export Custom Ex. Rate USD/ INR: 63.10
