Phenol Weekly Report 15 Feb 2019

Weekly Price Trend: 11-02-2019 to 15-02-2019

• 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 trend remained highly vulnerable and has been turbulent for this week.
• By end of the week prices were assessed at the level of Rs. 106/Kg for bulk quantity. Initially prices decreased heavily and reached to the level of Rs.100/Kg but as week proceeded further there was rise in domestic prices.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.106/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 1320-1340/MTS, reduced by USD 30/MTS for this week.
• Benzene FOB Korea prices remained soft-to-stable firm for this week. FOB Korea values were assessed around USD 595/M. On other side CFR China prices were assessed around USD 610/MT for this week. 
• Moreover the ongoing Lunar vacation in China has also slowed down the trade and trading in international market.
• The recent terror attack on Indian military will have an adverse impact on Indian trade relation with neighboring nation. Moreover such heinous attacks affect the economy of the country as well.
• Oil prices hit new high after a week long and has been the highest in this year. Withhold in the supply of crude from The Petroleum Exporting Countries (OPEC) and some non-affiliated suppliers including Russia has led to this hike in values.
• Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts.
• Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.97 a barrel by 0450 GMT. That was still 0.6 percent above the last close. 

$1 = Rs. 71.22

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95