Deepak Phenolics Ltd has resumed production at its phenol plant in Dahej, Gujarat. Earlier in April, the company had gone under a temporary shutdown due to feedstock shortages.
In a chat with Ply Reporter, the company official has confirmed the resumption of its phenol production and expects that the capacity utilisation will improve gradually in view of demand- supply.
The resumption of operation by Deepak Phenolics after the opening of the Strait of Hormuz is expected to embolden the domestic phenol supply that was under the grim state ever since the blockade of traditional sea routes.
Ply Reporter expects phenol prices to moderate within a week to the ₹145–155/kg range.