Phenol Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017

• 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. 69/Kg for bulk quantity.

Total import at various ports of India May, 2017

The above chart depicts the total imported quantity of Phenol for the month of May, 2017. In the month of May total imported quantity of Phenol was around 25937MT. As per chart last month at Kandla port imports were higher, while at Kolkata port imports were lower.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.69/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 920-940/MTS, prices have remained firm in compared to last assessed values.
• As per market players, phenol market is moving with soft-to-firm velocity from very long.
• This week oil prices have followed mixed trend. The oil market posted its worst performance in the first six months in two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $42.74/bbl, prices have increased by $0.21/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.40/bbl in compared to last trading and was assessed around $45.22/bbl.
• Benzene inventories along eastern China rise to 82,000 tonnes.
• Sinopec cuts east China benzene list price to CNY6,100/tone.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720/mt and USD750/mt respectively.

$1 = Rs. 64.52
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.50