Phenol Weekly Report 19 July 2019

Weekly Price Trend: 15-07-2019 to 19-07-2019

• 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. 75/Kg for bulk quantity reduced by Rs3/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 also reduced for this week. FOB Korea values for Benzene were assessed around USD 675/MT, reduced by USD 25/MT in compare to last week closing values. CFR China prices were assessed at the level of USD 685/MT, decreased by USD 20/MT in compare to last week’s closing values.
• Crude prices continue to decline in international market as Crude has overvalued in the past weeks and the scenario might deteriorate soon. Even after declining Crude inventories in U.S. prices continue to decline for the fourth trading session.
• Further tension in the Middle East further escalated after U.S. claimed to destroy an Iranian drone in the Strait of Hormuz which is a prime route for the global crude flows.
• Further fresh concerns rising from the Middle East might hamper the supply and in turn support Crude prices. However, worries over global slowdown continue to hamper Crude prices as President Donald Trump stated that an actual deal between U.S. & China might take time but he wouldn’t fall back to impose tariffs on $325 billion worth of Chinese imports in U.S. if needed.
• On Thursday day, closing crude values have mixed. WTI on NYME closed at $55.28/bbl. Prices have decreased by 2.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 1.15/bbl in compare to last closing price and was assessed around $65.5/bbl. 

$1 = Rs. 68.80

Import Custom Ex. Rate USD/ INR: 69.65

Export Custom Ex. Rate USD/ INR: 67.95