Phenol Weekly Report 24 Nov 2018
Weekly Price Trend: 19-11-2018 to 23-11-2018
· 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 decreased sharply and at the end of the week prices were assessed at the level of Rs. 113/Kg for bulk quantity.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.113/Kg for bulk quantity. Prices have decreased sharply.
- CFR India prices for this week were assessed in the range of USD 1415-1435/MTS, prices have decreased by USD 40/MT in compared to last assessed values.
- In the month of October prices were assessed in the range Rs150/Kg which ha snow declined to the level of Ra.113/Kg in domestic market.
- The steep fall in the crude values in international market has let to strong decline in the Benzene and Phenol prices.
- Post there has been heavy slowdown in crude prices. Earlier market was in constant worry of implication of Iran sanctions. Now as sanctions have started market has digested this fact and is now ready to move. So to get back to the normalcy the hike in last few weeks is now settling down.
- Crude market has declined by more than 30% in the month of November. Prices have remained vulnerable throughout this week.
- In last one month, crude prices have reached to its lowest level with WTI closed at $54.43 which was earlier $75 per barrel in the first week of October. Decline in crude values has also affected the Indian currency against dollar. Rupee settled at Ra.70.6 reduced by Rs.5 against dollar.
$1 = Rs. 70.67
Import Custom Ex. Rate USD/ INR: 72.95
Export Custom Ex. Rate USD/ INR: 71.25
