Phenol Weekly Report 28 June 2019

Weekly Price Trend: 24-06-2019 to 28-06-2019

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given weekly price remained variant throughout this week. By end of the week prices were assessed at the level of Rs. 79/Kg for bulk quantity increased by Rs.5/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.79/Kg for bulk quantity. Prices increased significantly for this week and were assessed at the level of Rs.79/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 1040-1060/MTS, increased by USD 30/MT for this week in compare to last week’s closing values.
• Benzene the major source for Phenol has improved again for this week. FOB Korea values for Benzene were assessed around USD 635/MT, remained unchanged in compare to last week closing values. CFR China prices were assessed at the level of USD 630/MT
• Oil prices remained firm on Friday, with focus shifting to the G20 summit where a scheduled meeting between US President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.
• A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity.
• According to experts "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later.
• The Organization of Petroleum Exporting Countries (OPEC) and some non-members including Russia, known as OPEC+, will hold meetings on July 1-2 in Vienna to decide whether to extend their supply cuts. 

$1 = Rs. 69.05

Import Custom Ex. Rate USD/ INR: 70.40

Export Custom Ex. Rate USD/ INR: 68.70