Phenol Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017
 

• 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. 68/Kg for bulk quantity.

Total import at various ports of India April, 2017

Above chart represent the imported quantity of Phenol for the month of April, 2017. Last month total imported quantity was assessed 22558mt. As per chart at Kandla port higher quantity has been imported while at Kolkata port imports were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.68/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 930-950/MTS, prices have increased in compared to last assessed values.
• This week domestic phenol prices have remained firm no major deals and discussion has been heard.
• South Korea’s Kumho runs phenol/acetone plant at 70% capacity which can produce 130,000 tonnes/year of phenol.
• China’s Sinopec increases phenol prices by CNY200/tone.
• This week overall crude oil prices have plunged with little volatility. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• As per recent report, Russia and Saudi Arabia announced earlier in the week that the supply cut should be extended for another nine months, into March 2018. Members of OPEC will meet next week to discuss extending the supply cut.
• Some market analyst predict that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but that would also be a green light for U.S. shale drillers, said by source. Many analysts expect to see $60 oil by the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl.
• This week upstream benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.

$1 = Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60