Phenol Weekly Report 17 January 2020

Weekly Price Trend: 13-01-2020 to 17-01-2020

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given week, prices declined significantly for this week. By end of the week prices were reduce and settled around Rs.74/Kg for bulk quantity, reduced by Rs.4/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.74/Kg for bulk quantity. Prices reduced significantly for this week.
• CFR India prices for this week were assessed in the range of USD 1120-1140/MTS, reduced by USD 30/MTS for this week.
• Benzene the major source for aromatic products also remained stable with no change in prices for this week. FOB Korea values for Benzene were assessed around USD 725/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
• Oil prices remained steady on Friday as reports of sluggish economic growth in China, the world's biggest crude importer and it has already raised concerns about fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week.
• In the fourth quarter of 2019, the world's second-largest economy grew by an expected 6 per cent from a year earlier, while the full-year expansion was 6.1 per cent, the slowest in 29 years, as per the government data.
• On other side India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet later this year.
• India was until recently Iran’s second-largest oil customer after China, but the U.S. sanctions on Iranian oil exports made India stop purchases of oil from Iran as refiners did not want to risk secondary U.S. sanctions if they continue doing business with Tehran.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.52/bbl. Prices have increased by 0.71/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.62/bbl in compare to last closing price and was assessed around $64.62/bbl.

$1 = Rs. 71.08

Import Custom Ex. Rate USD/ INR: 71.65

Export Custom Ex. Rate USD/ INR: 69.95