Phenol Weekly Report 25 October 2019

Weekly Price Trend: 21-10-2019 to 25-10-2019

• 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 reduced in the initial days of the week itself and later remained stable for rest of the week. By end of the week prices were assessed at the level of Rs. 70/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.70/Kg for bulk quantity. Prices remained highly improved for this week.
• CFR India prices for this week were assessed in the range of USD 1030-1050/MTS, reduced by USD 30/MT for this week in compare to last week’s closing values.
• Benzene is the major raw material for Phenol production. FOB Korea values for Benzene were assessed around USD 640/MT for this week reduced by USD 20/MTS for this week, while CFR China prices were assessed at the level of USD 665/MT for this week.
• Most of the markets in India are also operating rate festive season is celebrated across the country.
• Indian markets are operating on reduced rate as country is festive mood. This weekend there will be diwali celebrations across the nation with long extended vacations.
• Oil futures finished higher Thursday, as the U.S. and Turkey reached a cease-fire pact in Syria, temporarily easing Middle East tensions, and a tentative Brexit deal fueled appetite for assets perceived as risky.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.23/bbl. Prices have increased by 0.26/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.50/bbl in compare to last closing price and was assessed around $61.67/bbl.

$1 = Rs. 70.98

Import Custom Ex. Rate USD/ INR: 72.30

Export Custom Ex. Rate USD/ INR: 70.60