Phenol Weekly Report 10 January 2020

 Weekly Price Trend: 06-01-2020 to 10-01-2020

• 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 increased significantly for this week. By end of the week prices were reduce and settled around Rs.78/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.78/Kg for bulk quantity. Prices increased for this week.
• CFR India prices for this week were assessed in the range of USD 1150-1170/MTS, increased by USD 30/MTS for this week.
• Benzene the major source for aromatic products also remained variable this week. FOB Korea values for Benzene were assessed around USD 715/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
• The market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran.
• There was initial fall in the prices on Wednesday, prices were seen some rise on Thursday. During European trading hours Iranian media carried reports of military commanders speaking of further action aimed at expelling U.S. troops from the region.
• With growing geopolitical tensions appear to enter a new equilibrium, the overall supply conditions in the market tend to favour oil reverting lower.
• On Thursday closing crude values have decreased. WTI on NYME closed at $59.56/bbl. Prices have decreased by 0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.07/bbl in compare to last closing price and was assessed around $65.37/bbl.

$1 = Rs. 70.93

Import Custom Ex. Rate USD/ INR: 72.15

Export Custom Ex. Rate USD/ INR: 70.45