Phenol Weekly Report 3 january 2020

 Weekly Price Trend: 30-12-2019 to 03-01-2020

• 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 increased significantly for this week. By end of the week prices were assessed at the level of Rs.74/Kg for bulk quantity, increased by Rs.2/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.74/Kg for bulk quantity. Prices increased for this week.
• CFR India prices for this week were assessed in the range of USD 1120-1140/MTS, increased by USD 20/MTS for this week.
• Benzene the major source for aromatic products also remained stable with no change in prices for this week. FOB Korea values for Benzene were assessed around USD 735/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
• Crude prices have been soaring up today as there has been tension growing between Iran and US. Brent crude futures jumped by close to $3 on Friday to their highest since September after a US air strike killed key Iranian and Iraqi military personnel, raising concerns that escalating Middle East tensions may disrupt oil supplies.
• The supply side risks remain elevated in the Middle East and we could see tensions continue to elevate between the U.S. and Iran-backed militia in Iraq.
• Oil prices still have room for further upside as many analysts still have to upgrade their demand forecasts to include a rather calm period on the trade front.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.18/bbl. Prices have increased by 0.12/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.25/bbl in compare to last closing price and was assessed around $68.25/bbl.

$1 = Rs. 71.80

Import Custom Ex. Rate USD/ INR: 72.15

Export Custom Ex. Rate USD/ INR: 70.45