Phenol Weekly Report 04 Nov 2017

Weekly Price Trend: 30-10-2017 to 03-11-2017

• 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 plunged and at the end of the week were assessed at the level of Rs. 76/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.75/Kg for bulk quantity. Prices have decreased.
• CFR India prices for this week were assessed in the range of USD 1075-1095/MTS, prices have increased in compared to last assessed values.
• This week market has remained soft no major deals and discussion has been heard. In near term in domestic market trade activity will remain slow on account of festive holiday. •       
• The European benzene prices increased on surging US prices and strong export demand. As per report, traders continued to work the export arbitrage with the US, which meant that European prices were pulled up by the US. The US market has been firming since the second half of October on tight US fundamentals resulted attracting imports from Europe. Europe has been exporting benzene since the summer as traders attempted to clear length in the European market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $54.54/bbl; prices have increased by $0.24/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.13/bbl in compared to last trading and was assessed around $60.62/bbl.

 $1 = Rs. 64.55
 Import Custom Ex. Rate USD/ INR: 65.40
 Export Custom Ex. Rate USD/ INR: 64.70