Phenol Weekly Report 24 March 2018

Weekly Price Trend: 19-03-2018 to 23-03-2018

• 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 fluctuated little and at the end of the week were assessed at the level of Rs. 98/Kg for bulk quantity.

Total import at various ports of India February, 2018

Above graph represents the prices of Phenol for the month of February, 2018. Previous month total imported quantity was around 12248MT.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.98/Kg for bulk quantity. Prices have increased.
• CFR India prices for this week were assessed in the range of USD 1300-1320/MTS, prices have remained firm in compared to last assessed values.
• Presently Phenol market is moving with firm velocity no major deals and discussion has been heard.
• The decision taken by Reserve Bank of India (RBI) to ban the lending credit will have an adverse impact on chemical importers in the country. The recent scam in PNB and many other defaulters has hit hard to the Indian banking system. The central banking authority has now decided to put a weight on LC and LOU.
• The Indian importers believe that this ban will have an adverse impact on traders as import cost will shoot up. The most prominent chemicals are Phenol and acetone and other solvents are likely to witness a severe hike in values.
• This week crude oil prices have followed little volatility while increased through the week. On Thursday oil prices fell as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.30/bbl; prices have decreased by $0.87/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.56/bbl in compared to last trading and was assessed around $68.91/bbl.
• This week feedstock benzene prices also have fluctuated in Asian marekt..
• FOB Korea and CFR China prices of Benzene were evaluated at USD 855/mt and USD 845mt respectively.

 $1 = Rs. 65.00
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15