Phenol Weekly Report 27 Oct 2018

Weekly Price Trend: 22-10-2018 to 26-10-2018

• 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 decreased sharply and at the end of the week prices were assessed at the level of Rs. 135/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.135/Kg for bulk quantity. Prices have decreased sharply.
• CFR India prices for this week were assessed in the range of USD 1530-1550/MTS, prices have decreased 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 decrease and reach to the level of Rs.135/Kg for bulk quantity.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD 785/mt respectively.
• Oil prices reduced on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.
• "Bearish sentiment could force a re-test of support in the low $70.0 per barrel range.
• The market may shift towards an oversupply situation as evidenced by rising inventories over the pat few weeks.
• U.S. crude oil stockpiles rose last week for the fifth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said this week.
• Financial markets have been hit hard by a range of worries, including the U.S.-China trade war, a rout in emerging market currencies, rising borrowing costs and bond yields, and economic concerns in Italy.
• Washington is putting pressure on governments around the world to stop importing oil from Iran.
• Most, including its biggest customer China, are falling in line, and Iran has turned to storing its unsold oil on its tanker fleet in the hope that it can sell the crude off quickly once the sanctions are lifted again.

 $1 = Rs. 73.46
 Import Custom Ex. Rate USD/ INR: 74.30
 Export Custom Ex. Rate USD/ INR: 72.60