Phenol Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• 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 plunged and at the end of the week were assessed at the level of Rs. 74.5/Kg for bulk quantity.

Total import at various ports of India March, 2017

Above chart represents the imported quantity of Phenol in the month of March, 2017. Total imported quantity previous moth was around 15833mt. Last month at Kandla port higher quantity have been imported, while at Kolkata port imports were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic market prices were assessed around Rs.74.5/Kg for bulk quantity. Prices have plunged.
• CFR India prices for this week were assessed in the range of USD 1005-1025/MTS, prices have decreased in compared to last assessed values.
• This week domestic phenol prices have decreased as oil prices and feedstock prices also have decreased.
• Recently market is moving with slow velocity.
• Eu phenol imports plunged by over a fifth in February 2017.
• Mitsui Phenols Singapore has shut its BPA line on technical problem.
• This week oil prices have followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• As per report, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.
• Recently feedstock benzene prices have decreased as demand sentiments have been bearish.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 780/mt and USD785/mt respectively.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85