Phenol Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

• 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. 76/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.76/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1050-1070/MTS, prices have increased in compared to last assessed values.
• This week Phenol prices have increased on account of bearish demand from end users and lower availability of material.
• As per report, Sinopec Beijing Yanshan plans to shut its phenol/acetone plants.
• Spain's CEPSA declares force majeure of its phenol plant.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 780/mt and USD 790/mt respectively.
• This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl.
• Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70