Phenol Weekly Report 01 Sep 2018

Weekly Price Trend: 27-08-2018 to 31-08-2018

• 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 trend it can be observed that this week domestic market prices of Phenol have decreased and at the end of the week prices were assessed at the level of Rs. 106/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.106/Kg for bulk quantity. Prices have decreased little.
• CFR India prices for this week were assessed in the range of USD 1350-1370/MTS, prices have increased in compared to last assessed values.
• This week Phenol import has escalated little while domestic Phenol prices have plunged.
• Presently Phenol market is moving with soft-to-firm velocity no major discussion has been heard.
• This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
• Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran.
• Market players have said that market will remain tight towards the end of the year because of falling supply in countries such as Iran and Venezuela combined with strong demand, especially in Asia.
• East China benzene inventories drop by 1.43% week on week.
• This week benzene prices have remained firm.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 890/mt respectively.

$1 = Rs. 70.99
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40