Phenol Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• 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 and at the end of the week were assessed at the level of Rs. 66.5/Kg for bulk quantity.

Total import at various ports of India July, 2017

Above chart represents the total imported quantity of Phenol for the month of July 2017. Last month total imports were around 25733mt. As per chart previous month at Kandla port imports were higher while at Nhava Sheva port imported quantity were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.66.5/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 remained firm in compared to last assessed values.
• As per report, Sinopec increases east China phenol offers by CNY200/tone.
• China's Yangzhou Shiyou runs phenol/acetone plant at 80%.
• China's Lihuayi Weiyuan restarts phenol/acetone plant.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.
• Benzene inventories along eastern China decrease slightly.
• Dalian Fujia Dahua Petrochemical restarts aromatics unit.
• This week feedstock benzene prices have plunged with the plunge demand sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD770/mt respectively.

$1 = Rs. 64.03
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45