After touching highs of Rs. 130 per kg, Ex- Kandla, this month, the bulk price of phenol is most likely expected to witness a downward price correction in the near term as supply situation strengthens. Significant import shipment of phenol is expected to reach Kandla within the next few weeks, this has already led to a downward trend in bulk prices this week.
On 20th August, 2014, the opening price of phenol touched Rs. 118 per kg, based on market expectation that few import shipments are scheduled to arrive this week.
A prominent trader cited, "Three big import shipments are intended to reach within 10 days, one of them has quantity of around 6,000 metric tonnes. While most of the incoming phenol shipment is already pre-booked by end customers, there is still room for traders to replenish their stock positions".
Also, Hindustan Organic Chemicals Limited (HOCL) is expected to start the plant operations of its phenol- acetone unit within next 15-20 days, Indianpetrochem gathers from a company official. However, the plant isn't expected to operate at 100% capacity, over and above, its stock would only reach the market after 25 days of resuming operations, an official added.
Hence, overall the supply situation of phenol is expected to improve across major trading hubs in India, which should drive down the bulk price of the chemical in the near term amidst strong demand conditions from resins industries.
(This article was published on the website on August 20, 2014)
On 20th August, 2014, the opening price of phenol touched Rs. 118 per kg, based on market expectation that few import shipments are scheduled to arrive this week.
A prominent trader cited, "Three big import shipments are intended to reach within 10 days, one of them has quantity of around 6,000 metric tonnes. While most of the incoming phenol shipment is already pre-booked by end customers, there is still room for traders to replenish their stock positions".
Also, Hindustan Organic Chemicals Limited (HOCL) is expected to start the plant operations of its phenol- acetone unit within next 15-20 days, Indianpetrochem gathers from a company official. However, the plant isn't expected to operate at 100% capacity, over and above, its stock would only reach the market after 25 days of resuming operations, an official added.
Hence, overall the supply situation of phenol is expected to improve across major trading hubs in India, which should drive down the bulk price of the chemical in the near term amidst strong demand conditions from resins industries.
(This article was published on the website on August 20, 2014)
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