Phenol Weekly Report 26 June 2020

Weekly Price Trend: 22-06-2020 to 26-06-2020

• 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 remained unchanged for this week.
• Prices were assessed at the level of Rs.56/Kg for bulk quantity, with no change in values in domestic market.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.56/Kg for bulk quantity. Prices remained unchanged for this week.
• CFR India prices for this week were assessed in the range of USD 1120-1140/MTS for this week.
• FOB Korea values for Benzene were assessed around USD 420/MT for this week. There has been decline of USD 5/MT in Benzene values for this week. The outbreak in prices of crude has affected whole of the petrochemical market. CFR China prices were assessed at the level of USD 420/MT for this week.
• Crude oil futures were trading higher in mid-morning trade in Asia June 26 after positive US economic data buoyed market sentiment about an improved demand outlook, despite fresh outbreaks of COVID-19.
• surging number of new coronavirus cases in the US continues to weigh on market sentiment. Data from the COVID Tracking Project showed there were 38,672 positive COVID-19 tests in the US on June 24, a new record high. White House economic adviser Larry Kudlow was quoted in media reports as saying: "There will be shutdowns in individual places or certain stores.
• With fresh outbreaks of COVID-19 in Texas, Florida and California, there is a real threat of this demand recovery stalling. Some states are quarantining travelers from these states and some have halted the reopening of businesses 

$1 = Rs. 75.48

Import Custom Ex. Rate USD/ INR: 77.05

Export Custom Ex. Rate USD/ INR: 75.35