Phenol Weekly Report 13 December 2019

 Weekly Price Trend: 09-12-2019 to 13-12-2019

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given week, prices increased heavily for this week.  By end of the week prices were assessed at the level of Rs.72/Kg for bulk quantity, increased by Rs.6/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.72/Kg for bulk quantity. Prices increased heavily for this week.
• CFR India prices for this week were assessed in the range of USD 1090-1110/MTS, with an increase of USD 30/MTS for this week.
• Benzene the major source for aromatic products also increased for this week. FOB Korea values for Benzene were assessed around USD 709/MT for this week, increased by USD 9/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
• Oil prices extended gains this week. There has been hike in values as the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies that has raised big questions about global demand for crude.
• While a trade deal that would end uncertainty could provide a shot in the arm for oil demand in the near term, concerns continue to hover about the demand profile amid ample supplies going forward.
• In the meantime the White House has agreed to suspend some tariffs on Chinese goods and reduce others in return for Beijing's pledge to hike purchases of US farm products in 2020.
• On Thursday, closing crude values have increased. WTI on NYME closed at $59.18/bbl. Prices have increased by 0.42/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.48/bbl in compare to last closing price and was assessed around $64.20/bbl.

$1 = Rs. 70.81

Import Custom Ex. Rate USD/ INR: 72.40

Export Custom Ex. Rate USD/ INR: 70.70