Phenol Weekly Report 29 November 2019

Weekly Price Trend: 25-11-2019 to 29-11-2019

• 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 remained stable for this week. By end of the week prices were assessed at the level of Rs. 67/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.67/Kg for bulk quantity. Prices remained stable for this week.
• CFR India prices for this week were assessed in the range of USD 1030-1050/MTS, with no change in values fir this week.
• Benzene the major source for aromatic products also increased for this week. FOB Korea values for Benzene were assessed around USD 657/MT for this week, while CFR China prices were assessed at the level of USD 665/MT for this week.
• Crude oil prices on Thursday gained Rs 5 at Rs 4,132 per barrel as speculators created fresh positions amid positive trend in spot market.
• Analysts said rising of bets by participants kept crude prices higher in futures trade.
• On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 5, 0.12 per cent, to Rs 4,132 per barrel in 25,895 lots.
• Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad have weakened.
• There has been slowdown in demand at home and weakening demand abroad, and amid a fuel glut in Asia, refiners in the U.S. have processed lower volumes of crude oil so far this year. The cutting of rates has helped refiners avoid a fuel glut domestically, but lower processing rates have built an oversupply in crude, Kemp notes.

$1 = Rs. 71.74

Import Custom Ex. Rate USD/ INR: 72.75

Export Custom Ex. Rate USD/ INR: 71.05