Phenol Prices shot up by Rs. 5 per Kg today to attain the trading level of Rs. 129 per Kg. According to our market sources, phenol stock is not available in the market for the past couple of days. He further added that the solvent was not available even at the quoted price in a few markets.
A source from the Mumbai market told the website that after domestic manufacturers went out of stock last week, imported material started moving out really fast. As a result, imported material has also dried out from the market. Fresh stocks are not available at the port and next shipment is being expected to reach only after 22nd of September.
There is a strong demand from the end users, specially from Resin and Para-Formaldehyde industry. Consumption of Phenol is about twenty two to twenty five thousand metric tonnes per month in India. Demand is only expected to increase in the coming days as demand for phenol is generally quite high during the month of October. If shipment does not arrive at the Indian port in next few days, prices could move up further in this month.
Booking price remained stable at around $1700. Last quoted price in the domestic market was Rs.129 per Kg.
(This article was published on the website on September 16, 2014)
A source from the Mumbai market told the website that after domestic manufacturers went out of stock last week, imported material started moving out really fast. As a result, imported material has also dried out from the market. Fresh stocks are not available at the port and next shipment is being expected to reach only after 22nd of September.
There is a strong demand from the end users, specially from Resin and Para-Formaldehyde industry. Consumption of Phenol is about twenty two to twenty five thousand metric tonnes per month in India. Demand is only expected to increase in the coming days as demand for phenol is generally quite high during the month of October. If shipment does not arrive at the Indian port in next few days, prices could move up further in this month.
Booking price remained stable at around $1700. Last quoted price in the domestic market was Rs.129 per Kg.
(This article was published on the website on September 16, 2014)
No comments:
Post a Comment