Phenol: Phenol prices noticed at Rs 98-99/kg down Rs 2/kg week on week

Phenol: Phenol prices noticed at Rs 98-99/kg down Rs 2/kg week on week and expected stable to ±2/kg in coming days as phenol prices showing fluctuations on day to day basis. “Phenol imported prices and domestics prices changing on a very frequent basis these days but if we check the booking level it went up week on week and hence the domestic suppliers adjust their prices on import parity.”- source.

Current booking of phenol noticed at $1240/mt CFR India up $20/mt week on week.

Domestic producers phenol prices:

Deepak phenolics- Rs 97/kg down Rs 8/kg from previous assessments. HOCL Rs 97.75 down Rs 3.25/kg from last assessments. SI group – NA last was Rs 108/kg. CFR China phenol was assessed up $40/mt week on week to $1,110/mt amid rising domestic prices and also firmer benzene. Benzene was assessed at $612.33/mt on  Friday, up $4/mt week on week, and it rose to a year-to-date high of $623.33/mt FOB Korea on  Friday. Traders said the international spot market was tight on supply ahead of some turnarounds and an offer heard at $1,250/mt CFR China was described as “reasonable” by another trader. However, an end-user said it was too high and gave their buy idea at $1,020-$1,030/mt CFR China. Domestic phenol prices in China rose week on week by about Yuan 200/mt to Yuan 8,850/mt on  Friday, or similar to $1,080/mt on an import parity basis. A domestic producer in China said demand in China was going “well” after the Lunar New Year holidays. Prices in India was also heard increasing with trade sources there pegging CFR India prices at $1,220-$1,250/mt. The CFR India price was assessed up $20/mt to $1,220/mt.

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