As the prices of phenol sprung $210/mt on the week at $1,410/mt on March 31, following the acute shortage of raw material & chemicals, Deepak Phenolics Ltd has suspended the production at its phenol and acetone plant in Dahej, Gujarat from April 3 to15, 2026. As per report, about 40,000 mt/year MIBK(Methyl Isobutyl Ketone) unit was also under shutdown due to feedstock shortages.
Earlier in March, the company issued a letter cautioning that due to supply disruptions citing ongoing situation in the Middle East, coupled with disruption of vessel movements in the Strait of Hormuz, the supply of phenol and acetone products from its Dahej facility may be affected because Its own suppliers of key raw materials such as propylene, have invoked Force Majeure that is adversely impacting the production of all products from the Dahej plant, including phenol, acetone, isopropyl alcohol and alpha-methylstyrene (AMS).
As of late March 2026, Phenol CFR India prices are monitored around the $1,190–$1,200/MT range, while acetone CFR India was assessed up $230/mt at $1,480/mt over the same period amid global supply concerns due to the war in the Middle East.
Domestic prices have also seen high volatility due to fluctuating import costs and supply chain disruptions. As of early April 2026, domestic phenol prices in India are hovering around Rs 80–Rs 150 per kg, heavily influenced by industrial grade and bulk purchasing. Key spot prices in Western India (Kandla) have seen volatility, with recent quotes around Rs 145- Rs 186/kg for imported and Deepak Phenolics products.