Phenol Weekly Report 8 April 2017

Weekly Price Trend: 03-04-2017 to 07-04-2017

• 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. 78/Kg for bulk quantity.

Total import for last six months

Above graph represents the total import quantity of Phenol in previous six months. As per chart In total imports were around 113392mt.In last six months in the month of October, 2016 higher quantity has been imported while in November import were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.78/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 975-995/MTS, prices have increased in compared to last assessed values.
• This week domestic phenol prices have increased as oil prices and feedstock prices also have increased.
• Some market players have said that this week demand from end users have improved due to this phenol prices have improved.
• As per report, South Korea’s Kumho runs its phenol/acetone plant at below 40%. Its No 4 unit having production capacity of around 300,000 tonnes/year of phenol.
• Chinese Changshu Changchun runs its  phenol/acetone plant at 75%.
• South Korea’s Kumho is planning to shut its No 3 phenol unit for 6-7 days from 10 Apr.
• This week mostly oil prices have followed up inclination. On Tuesday prices have declined tiny but again through the week prices have escalated. Oil prices have increased as bullish sentiment remained supportive. Oil prices have increased but market players remained vigilant about record-high U.S. crude inventories.
• On Friday U.S. crude futures jumped more than in Asia after President Trump ordered the first direct American military action against the regime of Syrian President Bashar al-Assad.
• Presently traders have been watching U.S. gasoline inventories as an indicator of what may happen with crude supplies.
• As per market analyst the dollar has come under some pressure of late and this pushes up oil as well as the U.S. dollar value of offshore earnings. Traders say oil is likely to remain in its recent wide range. OPEC Secretary said that that the oil market is already rebalancing and global oil inventories are starting to come down after three months of output cuts by OPEC and their 11-non-OPEC partners. While rising U.S. crude production has some OPEC members calling for an extension of the cuts through December.
• Recently feedstock benzene prices have increased as demand sentiments are improving.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD 850/mt respectively.

$1 = Rs. 64.28
Import Custom Ex. Rate USD/ INR: 65.90
Export Custom Ex. Rate USD/ INR: 64.20