Phenol Weekly Report 5 July 2019

Weekly Price Trend: 01-07-2019 to 05-07-2019

• 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.4/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 by Rs.4/Kg 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 1070-1090/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 655/MT, increased by USD 20/MT in compare to last week closing values. CFR China prices were assessed at the level of USD 655/MT, increased by USD 25/MT in compare to last week’s closing values.
• Market will react more aggressively in India as today first budget has been declared by the new government. The implication of budget on petrochemical segment will be visible on Monday.
• Crude oil prices fell on Friday on weak economic indicators from the United States and Germany, shrugging off tensions around Iran and this week's decision by OPEC and its allies to extend a supply cut deal until next year.
• Oil prices eased lower on Friday morning as concerns over global economic growth offset escalating geopolitical tensions in the Middle East
• Weak industrial demand gave a bearish signal for oil demand. Global growth remains the main factor holding back crude prices," said Alfonso Esparza, senior analyst at OANDA. The OPEC+ deal will keep prices from falling too hard, but there must be an end to trade protectionism to assure the demand for energy products recovers.
• On Thursday day, closing crude values have remained same. WTI on NYME closed at $57.34/bbl. Prices have remained same in compared to last closing prices. While Brent on Inter Continental Exchange have remained same in compare to last closing price and was assessed around $63.82/bbl. 

$1 = Rs. 68.42

Import Custom Ex. Rate USD/ INR: 69.75

Export Custom Ex. Rate USD/ INR: 68.05