Phenol Weekly Report 25 Nov 2017

Weekly Price Trend: 20-11-2017 to 24-11-2017

• 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 increased sharply and at the end of the week were assessed at the level of Rs. 84/Kg for bulk quantity.

Total import at various ports of India October, 2017

Above graph represents the total imported quantity of Phenol for the month of October 2017. Last month total imported quantity of Phenol was around 26545mt. At Kandla port imported quantity were higher while at Hazira port imports were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.84/Kg for bulk quantity. Prices have increased sharply.
• CFR India prices for this week were assessed in the range of USD 1190-1210/MTS, prices have increased in compared to last assessed values.
• Phenol prices higher in Asia this week. A surge in upstream benzene values and strong demand trends in china pushed prices sharply higher in the region.      
• Shell Chemicals took an important decision of idling its two Phenol units after Acetone. The idling of these units in 2018 in US will balance the Phenol supply in the country. The Phenol unit no3 will be kept idle based at Deer Park in Texas. This unit has the production capacity of 2, 40,000 mt/year. The lost phenol capacity is expected to significantly curb exports of US phenol into Asia, rather than cutting into product available for domestic buyers.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.45/bbl; prices have increased by $0.37/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $63.38/bbl.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 870/mt and USD 870/mt respectively.

 $1 = Rs. 64.70
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50