Phenol Weekly Report 28 February 2020
Weekly Price Trend: 24-02-2020 to 28-02-2020
- The above given graph focuses on the Phenol price trend for the current week.
- If we take a quick look at the above given week, prices remained firm throughout this week. Prices were assessed at the level of Rs.77/Kg for bulk quantity, reduced by Rs.1/Kg for this week.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.77/Kg for bulk quantity. Prices reduced slightly for this week.
- CFR India prices for this week were assessed in the range of USD 1090-1110/MTS, reduced by USD 40/MTS for this week.
- Benzene the major source for aromatic products has reduced heavily for this week. FOB Korea values for Benzene were assessed around USD 635/MT for this week, reduced by USD 40/MTS for this week while CFR China prices were assessed at the level of USD 645/MT for this week again reduced by USD40/MT for this week.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $47.09/bbl. Prices have decreased by 1.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 1.25/bbl in compare to last closing price and was assessed around $53.18/bbl.
- Oil prices has been operating on declining mode and were on track for about a 12 per cent weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
- The virus, which has already killed more than 2,700 people in China, has been found in another 46 countries and caused 57 deaths. Experts worry the epidemic could turn into a pandemic and deliver a damaging blow to the global economy.
- The most active Brent crude contract for May was down 90 cents, or 1.7 per cent, at $50.83 a barrel by 0141 GMT, a 14-month low. The front-month April contract expires today.
- The international benchmark, which fell about 2 per cent on Thursday, has shed around 12 per cent this week and is on track for its steepest weekly decline since mid-January 2016.
- With new infections reported around the world now surpassing those in mainland China, the World Health Organization said on Thursday that all countries need to prepare to combat the coronavirus.
PLANT NEWS
Commercial production started at PTTGC’s Olefin project
PTTGC, PTT Global Company made a major announcement related to starting of commercial production at its new Olefin plant in Map Ta Phut in Thailand.
The project includes an Ethylene plant with a capacity of 5,00,000 tonnes/year and Propylene plant with a capacity of 2,50,000 tonnes/year. It will further increase the capacity of solvents to 3.7 mln tones/year from 3 mln tones/ear.
Phenol-Acetone unit shut down by PetroRabigh Petrochemical
PetroRabigh refining and Petrochemical Company has started maintenance at its Phenol-Acetone unit. The unit was shutdown this week and is likely to remain off-stream for around one month.
Unit is based at Rabigh in Saudi Arabia and has the production capacity of Phenol around 270,000 mt/year and acetone capacity of 165,000 mt/year.
Phenol/Acetone plant shutdown by Shiyou chemical
China based Shiyou Chemical decided to shut its Phenol/Acetone plant for maintenance. The plant is located at Yangzhou in Jiangsu province in China. The plant has the production capacity of 2,00,000 tonnes/year of Phenol and 1,20,000 tonnes/year of Acetone . Currently the shipments of Phenol/Acetone have been halted for few days.
$1 = Rs. 72.20
Import Custom Ex. Rate USD/ INR: 72.65
Export Custom Ex. Rate USD/ INR: 70.95
