Phenol Weekly Report 28 April 2018

Weekly Price Trend: 23-04-2018 to 27-04-2018

• 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 plunged and at the end of the week prices were assessed at the level of Rs. 110/Kg for bulk quantity.

Total import at various ports of India March, 2018

Above chart represents the total imported quantity of Phenol for the month of March, 2018.
Last month total imports were around 29703MT. 

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.110/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1490-1510/MTS, prices have remained firm in compared to last assessed values.
• Domestic phenol prices have escalated on limited supply and good demand from end users.
• Presently phenol demand is strong, particularly from the adhesives and coatings sector.
• As per report, China’s phenol imports stay strong on the back of overall cozy supply in Asia.
• Recently phenol prices have increased drastically on low material availability.
• Market players have said that supply of Asia-origin cargoes is limited and buyers are looking further afield, towards US and Europe for phenol.
• Supply to China is decreased in the second quarter due to plant maintenance in Asia and the Middle East.
• Formosa Petrochemical’s shut its phenol/acetone plant in Ningbo for maintenance.
• Cepsa Chemical’s will shut its plant, for a turnaround from 25 May- 10 June in Shanghai.
• PetroChina Jilin Petrochemical’s plant will go for maintenance from 5 May-18 June.
• Feedstock Benzene prices in east China has plunged on ample supply and narrow fluctuations.
• Feedstock benzene prices have firm in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 840/mt and USD 840/mt respectively.
• This week oil prices have followed little volatility at the end of the week prices have escalated. On Thursday oil prices increased, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.19/bbl; prices have increased by $0.14/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 $74.74/bbl.
• Venezuela's plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world's biggest oil consuming region. However, not all market indicators point towards tighter supplies. Soaring U.S. oil production and exports are holding back further price gains.

 $1 = Rs. 66.66
 Import Custom Ex. Rate USD/ INR: 66.70
 Export Custom Ex. Rate USD/ INR: 65.00