Phenol Weekly Report 14 Dec 2018

Weekly Price Trend: 10-12-2018 to 14-12-2018

• 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 prices declined further in market prices have decreased sharply and at the end of the week prices were assessed at the level of Rs. 84/Kg for bulk quantity.
• Prices reduced by Rs.84/Kg for this week. 

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.84/Kg for bulk quantity. Prices have decreased sharply.
• CFR India prices for this week were assessed in the range of USD 1300-1320/MTS, prices have decreased by USD 20/MT in compared to last assessed values.
• In the month of October prices were assessed in the range Rs150/Kg which has now declined to the level of Ra.84/Kg in domestic market.
• The steep fall in the crude values in international market has let to strong decline in the Benzene and Phenol prices.
• Benzene FOB Korea prices declined by more than USD 40/MT in this week. FOB Korea values were assessed around USD 600/MT. On other side CFR China prices were assessed around USD 625/MT for this week.
• Price remained vulnerable for this week in crude market. Earlier prices slowed down on Wednesday with impact of publish of data by US of crude supplied.
• Crude prices stood up on back of easing trade tension as well as decline in inventory levels. Ease in trade discussion between China and US has been a relief across the global market.
• Further decline in US crude stock has also pulled up the prices and boosted the sentiment. The crude prices have direct impact on petrochemical prices. Earlier OPEC stated that in 2019 demand for crude would fall to 31.44 million barrels per day, 100,000 bpd less than predicted last month and 1.53 million less than it currently produces. 

 $1 = Rs. 71.97

 Import Custom Ex. Rate USD/ INR: 71.75

 Export Custom Ex. Rate USD/ INR: 70.05