Phenol Weekly Report 28 August 2020

Weekly Price Trend: 24-08-2020 to 28-08-2020

• 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, there has been significant rise in domestic prices. The acute supply has compelled the prices to spike up in domestic market.
• Prices were assessed at the level of Rs.52/Kg for bulk quantity, increased by Rs.8/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.52/Kg for bulk quantity. Prices increased heavily for this week.
• There has been significant hike in domestic values due to acute shortage in the domestic supply of the chemical. Experts believe that rise in Phenol prices is temporary and will settle down in next week,
• CFR India prices for this week were assessed in the range of USD 1160-1180/MTS for this week. Prices improved by USD 40/MT for this week.
• Discussion related to Phenol in US market remained blurred due to landfall of hurricane over there. Further antidumping probe is going on US Cargoes by India and China has also made the limited purchase.
• FOB Korea values for Benzene were assessed around USD 443/MT for this week. There has been an increase of USD 10/MT for this week. CFR China prices were assessed at the level of USD 442/MT for this week.
• There has been decline in Benzene FOB Korea prices affecting whole of the south Asian market. There has been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• On Thursday closing, crude values have declined slightly. WTI on NYME closed at $43.04/bbl. Prices have reduced by 0.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange have reduced by 0.55/bbl in compare to last closing price and was assessed around $45.09/bbl.

 $1 = Rs. 73.38

Import Custom Ex. Rate USD/ INR: 75.90

Export Custom Ex. Rate USD/ INR: 74.15