Phenol demand moderate in Indian markets amid supply shortage – 9 Feb 2015

Phenol demand set their foot in the major chemical markets of India, Price increased by 20% to Rs 74-75 per kg Ex-Kandla in last few weeks. HOCL and SI group quoted their manufactured Phenol at Rs 68 per kg and Rs 77 per kg respectively.

There is no latest offer of the Phenol because unavailibility of the chemical in International market.

Demand of the chemical in upward direction due to stability comes in crude oil as well as Aromatics prices in the International market in last two weeks.

Asian benzene rose to $666 per mt as on 3rd February2015, up $48 per mt day on day, amid firmer crude oil prices which boosted buying interest for benzene and toluene as well as downstream styrene monomer. Downstream Asian Styrene monomer jumped $23 per mt day on day to $920 per mt FOB Korea and $946 per mt CFR China  Upstream Asian toluene surged $28 per mt to $601 per mt FOB Korea Tuesday. Most aromatics were up on firm buying interest amid bullish upstream crude futures. March ICE Brent crude futures rebounded further from a day earlier, up $3.96 per barrel day on day to $55.66 per barrel.

Stocks of the Phenol available at the Kandla port is around 25000 metric tonne- source said.

Traders and importers expecting that demand of the chemical will rise in coming days from resin industries due to ensuing summer season.