Phenol Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017

• 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 market prices of Phenol have remained firm and at the end of the week were assessed at the level of Rs. 68/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.68/Kg for bulk quantity. Prices have remained firm.
• CFR India prices for this week were assessed in the range of USD 925-945/MTS, prices have remained firm in compared to last assessed values.
• From very long phenol market is moving with firm velocity no major deals and discussion has been heard.
• This week Crude oil prices have followed up inclination as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.
• As per market source, the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Rising consumption in Germany and the United States was helping boost oil demand. OPEC said its production rose by 393,000 barrels per day in June to 32.611 million bpd.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.

$1 = Rs. 64.45
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95