Phenol Weekly Report 4 Jan 2019

Weekly Price Trend: 31-12-2018 to 04-01-2019

• 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 prices remained stable for this week.
• By end of the week prices were assessed at the level of Rs. 83/Kg for bulk quantity. 

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.83/Kg for bulk quantity. Prices have remained stable for this week.
• CFR India prices for this week were assessed in the range of USD 1290-1310/MTS, increased by USD20/MTS for this week.
• In the month of October prices were assessed in the range Rs150/Kg which has now declined to the level of Ra.82/Kg in domestic market.
• Benzene FOB Korea prices slightly improved by USD 5/MT in this week. FOB Korea values were assessed around USD 520/MT. On other side CFR China prices were assessed around USD 540/MT for this week.  This improvement has a positive impact on Phenol prices in international market.
• There has been significant lowering in crude prices in last few weeks. With end of week last week Brent and WTI witnessed hike in its values on back of improvement in US and CHINA trade talks.
• Oil prices increased by more than 1 percent on Monday with an optimistic view of discussion between USD and Chinese delegations. This could lead to supply cuts by major producers to support the market.
• Brent crude futures were at $57.75 per barrel at 0404 GMT, up 69 cents, or 1.2 percent, from their last close.
• U.S. West Texas Intermediate (WTI) crude oil futures were at $48.67 per barrel, up 71 cents, or 1.5 percent. 

PLANT NEWS

Phenol/Acetone unit restarted by CSPC

• CNOOC Shell Petrochemicals Co (CSPC) of China has restarted its Phenol/Acetone unit. Earlier the unit was shut down in the month of august last year due to some equipment failure. Unit has resumed its production last week. The unit is currently operating at full of its capacity. Unit is based at Huizhou province of South China and has the production capacity of 220,000 tonnes/year for phenol and 130,000 tonnes/year for acetone.

 $1 = Rs. 69.87

 Import Custom Ex. Rate USD/ INR: 71.25

 Export Custom Ex. Rate USD/ INR: 69.55