Phenol Weekly Report 20 Oct 2018
Weekly Price Trend: 15-10-2018 to 19-10-2018
- 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 market prices of Phenol have increased sharply and at the end of the week prices were assessed at the level of Rs. 138/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.138/Kg for bulk quantity. Prices have increased sharply.
- CFR India prices for this week were assessed in the range of USD 1550-1570/MTS, prices have increased by USD 20/MT in compared to last assessed values.
- With an unprecedented hike in last week, prices are now operating on reverse mode. This week prices increse and reach to the level of Rs.138/Kg for bulk quantity.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 850/mt respectively.
- There has been significant decline in crude prices in last two weeks. Prices plunged by more than 11 % in last two weeks. Oil prices rose to nearly four-year highs at the start of October as there has been depletion in crude supply sue to US sanctions on Iran.
- Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
- The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
- The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $68.65/bbl. Prices have decreased by $1.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.76/bbl in compare to last closing price and was assessed around $79.29/bbl.
$1 = Rs. 73.32
Import Custom Ex. Rate USD/ INR: 74.30
Export Custom Ex. Rate USD/ INR: 72.60
