Phenol prices showed continues downtrend in the Indian market and down Rs 2/kg from day to day to Rs 120/kg at Ex-Kandla. Phenol prices went on low trend due to poor demand in the domestic market which downward International prices.
“Prices also went down due to piling inventory at major ports of India.”- source.
Current ports prices noticed between Rs 120-121/kg Booking price assessed between $1420-1425/mt CFR India down $10/mt.
Indian major producers have declined their prices as follows:
- HOC – Rs 126/kg down by Rs 3/kg as on 15/11/2018
- Deepak Phenolics- Rs 124/kg down Rs 8/kg as on 30th Oct’18
- Herdilia- Rs 130/kg down Rs 10/kg as on 29th Oct’18.
Sentiment in the phenol market turned bearish in the week to Thursday as feedstock benzene and propylene prices were weakening. Moreover, downstream markets such as polycarbonate and bisphenol-A also saw lukewarm buying interest, “BPA is about $1,300/mt now and if you subtract $300/mt for production costs, phenol prices should be around $1,000/mt CFR Northeast Asia,” a market source said.
CFR China phenol was assessed lower by $50/mt week on week at $1,400/mt, reflecting tradable indications heard at this level. Meanwhile, CFR Southeast Asia prices fell $20/mt to $1,350/mt, amid price declines heard in the other market. In India, tradable indications were heard at $1,500/mt CFR India, though buying interest was thin at this price. The CFR India market was assessed lower by $10/mt at $1,420/mt, in line with general price declines in the adjacent markets.