Phenol Weekly Report 10 May 2019

Weekly Price Trend: 06-05-2019 to 10-05-2019

• 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 reduced significantly by end of the week. By end of the week prices were assessed at the level of Rs. 81/Kg for bulk quantity reduced by Rs.2/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.81/Kg for bulk quantity. Prices has reduced significantly for this week.
• CFR India prices for this week were assessed in the range of USD 1070-1090/MTS, reduced by USD 20/MTS in compare to last week’s closing values.
• Benzene the major source for Phenol has also reduced for this week FOB Korea values for Benzene were assessed around USD 620/MT reduced by USD 5/MT from last week’s closing values. On other side CFR China prices were also reduced for this week. CFR China prices were reduced by USD 10/MT and were assessed around USD 614/MT for this week.
• Crude oil prices are heading on higher note since last few weeks following first day of US-China trade talks. Sentiment got an uptick following a report that Trump, Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer were talking about progress in negotiations. The fate of the commodity, and whether or not gains may last likely depends on the outcome of the negotiations.
• The end of the U.S. sanction waivers for all Iranian all buyers means that Iran’s oil exports will drop as of this month, but no one is really sure by how much. Various analysts expect that Iran will continue to ship oil somewhere between 200,000 bpd and 600,000 bpd, but not all that oil would be oil sales as it could be debt repayment, and some of it is expected to go ‘under the radar’.
• All these uncertainties in oil supply are making OPEC’s decision making more difficult as the cartel and allies are getting ready to hold a panel of technical committees later this month in Jeddah, Saudi Arabia, to discuss the state of the oil market and the supply and demand balance. 

PLANT NEWS

Phenol/Acetone unit shut down by Sinopec Yanshan

• Sinopec Yanshan Company Beijing has shut down its Phenol/acetone unit for maintenance turnaround. The unit will be shut down by end of this week and is likely to remain off-stream for around one week.
• Unit is based at Beijing in China and has the production capacity of Phenol around 1,10,00 tonnes/year and Acetone around 70,000 tonnes/year.

$1 = Rs. 69.91

Import Custom Ex. Rate USD/ INR: 70.45

Export Custom Ex. Rate USD/ INR: 68.80