Phenol Weekly Report 31 July 2020

Weekly Price Trend: 27-07-2020 to 31-07-2020

• 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 reduced by Rs.2/Kg in compare to last week’s closing values.
• Prices were assessed at the level of Rs.48/Kg for bulk quantity, declined in compare to last week’s closing values.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.48/Kg for bulk quantity. Prices reduced by Rs.2/Kg for this week.
• CFR India prices for this week were assessed in the range of USD 1150-1170/MTS for this week. Prices remained unchanged for this week.
• FOB Korea values for Benzene were assessed around USD 450/MT for this week. There has been a rise of USD 15/MT in Benzene values. CFR China prices were assessed at the level of USD 445MT for this week.
• There has been improvement in Benzene prices across the global market. On other side Toluene prices have been confined to float with minimal difference every week.
• Chinese firms are facing tough time as most of the countries blame China for the rise of this pandemic. Covid 19 was first observed in Chinese province Wuhan. This pandemic has stalled all the major economies of the world.
• In major plant news Sinopec SABIC Tianjin Petrochemical has restarted its cracker after a brief maintenance schedule. Earlier the unit was shutdown in the month of May for its maintenance. Unit is based at Tianjin in China and has the production capacity of 1 mln mt/ear of Ethylene and Propylene capacity of 5,40,000 mt/year.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $39.92/bbl. Prices have decreased by 1.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange have decreased by 0.81/bbl in compare to last closing price and was assessed around $42.94/bbl. 

$1 = Rs. 74.81

Import Custom Ex. Rate USD/ INR: 76.10

Export Custom Ex. Rate USD/ INR: 74.40