Phenol Weekly Report 9 August 2019

Weekly Price Trend: 05-08-2019 to 09-08-2019

• 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 stable throughout this week. By end of the week prices were assessed at the level of Rs. 71/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.71/Kg for bulk quantity. Prices remained stable for this week and were assessed at the level of Rs.71/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 990-1010/MTS, reduced by USD 30/MTS for this week in compare to last week’s closing values.
• Benzene the major source for aromatic products has also declined for this week. FOB Korea values for Benzene were assessed around USD 630/MT, decreased by USD 33/MT for this week, while CFR China prices also reduced and were assessed at the level of USD 625/MT for this week.
• The ongoing tensions between India and neighboring state have been a matter of concern. The neighboring state has cut down its all ties with India. Although this will not have major impact on India economy.
• Oil prices have still lost more than 20% from peaks reached in April.
• Oil prices fell on Friday amid fears over demand as the US-China trade row casts its shadow over markets, although prices got some support from expectations of more OPEC production cuts.
• Global financial markets have been rocked over the past week after US President Donald Trump said he would impose 10% tariffs on more Chinese goods starting September and as a fall in the Chinese yuan sparked fears of a currency war. "The tentative oil rebound could be short-lived as the US-China trade dispute is providing no real reasons to be optimistic. 

$1 = Rs. 70.74

Import Custom Ex. Rate USD/ INR: 70.00

Export Custom Ex. Rate USD/ INR: 68.30