Phenol Weekly Report 25 September 2020
Weekly Price Trend: 21-09-2020 to 25-09-2020
- 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, there has been decline in values for this week.
- Prices were assessed at the level of Rs.49/Kg for bulk quantity, reduced by Rs.4/Kg for this week.
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.49/Kg for bulk quantity. Prices reduced by Rs.4/Kg for this week.
- There has been significant slowdown in domestic values due ample supply of the chemical coupled with availability of inventor at ports.
- CFR India prices for this week were assessed in the range of USD 1130-1150/MTS for this week. Prices reduced by USD 30/MT for this week.
- Discussion related to Phenol in US market remained blurred due to landfall of hurricane over there. Further antidumping probe is going on US Cargoes by India and China has also made the limited purchase.
- FOB Korea values for Benzene were assessed around USD 420/MT for this week. There has been a slight improvement in prices. Prices increased by USD 1/MT for this week. CFR China prices were assessed at the level of USD 425/MT for this week.
- The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
- The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
- There has been decline in capacity utilization of Indian refineries. On an average the capacity utilization for all categories has declined to 76% which was earlier 83% in the month of August. The lowest reruns of refineries owing pandemic and lockdown imposed has led to shutdown and maintenance of refineries. The run rate was 104% in the year-ago period.
- Refineries like Indian Oil Corp's Paradip, Reliance's export-oriented unit, and Hindustan Petroleum Corp. Ltd's Vizag refinery carried out maintenance programs at a time when retail demand is low due to the COVID-19 impact.
- On Thursday closing, there was improvement in prices. WTI on NYME closed at $40.31/bbl. Prices improved by 0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.41/bbl in compare to last closing price and was assessed around $41.94/bbl.
$1 = Rs. 73.61
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90
