Phenol Weekly Report 21 February 2020

Weekly Price Trend: 17-02-2020 to 21-02-2020

• 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 firm throughout this week. Prices were assessed at the level of Rs.78/Kg for bulk quantity, increased by Rs.3/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.78/Kg for bulk quantity. Prices increased slightly for this week.
• CFR India prices for this week were assessed in the range of USD 1130-1150/MTS, with an increase of USD 40/MT for this week.
• Benzene the major source for aromatic products has improved for this week. FOB Korea values for Benzene were assessed around USD 675/MT for this week, increased by USD 15/MTS for this week while CFR China prices were assessed at the level of USD 677/MT for this week again increased by USD17/MT for this week.
• Oil prices has been on rising trend as the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
• Scores of new coronavirus cases and a first death in South Korea fanned fears of global pandemic as research suggested it could be more contagious than previously thought.
• China’s move to cut its benchmark lending rate eased some worries about slowing demand in the world’s second-biggest oil consumer and largest crude oil importer.
• Indian markets remained closed due to festival of shivratri across the country and very few discussions were heard in the market.

$1 = Rs. 71.66

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95