Phenol Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• 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. 75/Kg for bulk quantity.

Total import at various ports of India February, 2017

Above chart represent the imported quantity of Phenol for the month of February, 2017. Previous month total imported quantity was around 20051mt. As per the chart last month at Ennore port lower quantity has been imported while at Kandla port imports was higher.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.75/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 965-985/MTS, prices have decreased in compared to last assessed values.
• This week domestic phenol prices have increased in compare to previous week, while international prices have plunged.
• Recently Phenol market is moving with downward velocity but with the fluctuation in the oil prices and upstream prices phenol prices also have increased this week.
•  As per market source Indian domestic phenol prices pare gains amid benzene losses.
• Thailand’s PTT Phenol running BPA plant at 90-100%
•  In Asian market demand for phenol in China will strengthen as nylon producer Fujian Shenyuan starts up a new phenol-based cyclohexanone unit possibly towards the middle of the year, said by source.
• This week oil prices have followed scrawny inclination. Oil prices have plunged as U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per source American crude output continued to rise along with inventories, While OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.
• Recently feedstock benzene prices have plunged as demand has been dull form very long.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 715/mt and USD 725/mt respectively.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50