Phenol Weekly Report 25 Feb 2017

Weekly Price Trend: 20-02-2017 to 24-02-2017

• 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 decreased and at the end of the week were assessed at the level of Rs. 82/Kg for bulk quantity.

Total import at various ports of India January, 2017

Above chart represent the import quantity of Phenol for the month of January 2017. In January total imported quantity were around 15801mt.As per chart previous month 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.82/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 1180-1200/MTS, prices have decreased in compared to last assessed values.
• This week with the plunge in the demand sentiments from end users phenol prices also have plunged.
• Recently material availability easily and market players are buying only need based material which has resulted in plunge in prices.
• Oil prices remained volatile through the week. Some market players have said that oil prices will remain stuck in a narrow range as OPEC continues to cut output and U.S. drillers increase production. That will cap the recovery for oil stocks.
• The U.S. exported a good amount of crude oil and filling the gap in world markets created by OPEC cutbacks. OPEC certainly has to be concerned with U.S. oil producers eating into their market share. As per market analyst in near term the pressure on prices is going to stay in place and ultimately break out of this range to the downside.
• On Thursday, closing crude values have increased.WTI on NYME closed at $54.45/bbl, prices have increased by $0.86/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $56.58/bbl.
• This week feedstock benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 925/mt and USD 950/mt respectively.

$1 = Rs. 66.83
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15