Phenol Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017

• 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 June, 2017

Above chart represent the total imported quantity of Phenol for the month of June 2017.
Previous month total imports were around 41647MT. As per chart last month at Kandla port imports were higher while at Kolkata port imported quantity was lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.68/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 plunged in compared to last assessed values.
• This week phenol prices have plunged in international market due to decline in demand from end users.
• China's Kingboard Guangzhou to shut phenol/acetone unit.
• This week upstream benzene prices have remained firm.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.
• This week oil prices have followed volatility in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. On Thursday , oil settled lower in uneven trading.Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
• Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.

$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95