Phenol Weekly Report 21 August 2020

Weekly Price Trend: 17-08-2020 to 21-08-2020

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given week, prices remained stable for most of the week and increased slightly by end of the week.
• Prices were assessed at the level of Rs.44.5/Kg for bulk quantity, increased by Rs.0.50/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.44.5/Kg for bulk quantity. Prices slightly improved by Rs 0.50/Kg for this week.
• CFR India prices for this week were assessed in the range of USD 1120-1140/MTS for this week. Prices improved by USD 10/MT for this week.
• FOB Korea values for Benzene was assessed around USD 430-435/MT for this week. There has been correction of USD 5-7/MT in Benzene values. CFR China prices were assessed at the level of USD 442/MT for this week.
• There has been decline in Benzene FOB Korea prices affecting whole of the south Asian market. There has been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• Domestic market has been operating at slower rate this year due to pandemic. The season of festivals has already started in India but there is no demand nor any kind of rush for domestic consumption.
• There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
• Most major countries in Southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
• Producers are not lowering offers substantially to maintain some margins due to a relatively stable feedstock acetic acid market.

$1 = Rs. 74.84

Import Custom Ex. Rate USD/ INR: 75.90

Export Custom Ex. Rate USD/ INR: 74.15