Phenol Weekly Report 12 July 2019

Weekly Price Trend: 08-07-2019 to 12-07-2019

• 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 stable throughout this week. By end of the week prices were assessed at the level of Rs. 78/Kg for bulk quantity reduced by Rs1/kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.78/Kg for bulk quantity. Prices reduced slightly by Rs.1/Kg for this week and were assessed at the level of Rs.78/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 1070-1090/MTS, with no change 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 700/MT, increased by USD 45/MT in compare to last week closing values. CFR China prices were assessed at the level of USD 705/MT, increased by USD 50/MT in compare to last week’s closing values.
• Crude oil prices rose 0.61 percent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets.
• Non-OPEC crude oil supply will rise by 2.4 million bpd next year, OPEC said in its latest Monthly Oil Market Report.
• The cartel added that the rise would be driven by the addition of new pipeline capacity in North America, most likely meaning the United States as Canada’s pipeline woes continue and Mexico struggles to reverse declining production. In fact, OPEC mentioned the natural decline of production in Mexico would offset the effect of rising non-OPEC supply somewhat.
• It’s not just the U.S. that will expand production, however. New projects in Norway, Brazil and Australia will also contribute to the increase in non-OPEC supply.
• On Thursday day, closing crude values have decreased. WTI on NYME closed at $60.20/bbl. Prices have decreased by 0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.49/bbl in compare to last closing price and was assessed around $66.52/bbl.

$1 = Rs. 68.68

Import Custom Ex. Rate USD/ INR: 69.75

Export Custom Ex. Rate USD/ INR: 68.05