Phenol Weekly Report 5 April 2019

Weekly Price Trend: 01-04-2019 to 05-04-2019

• 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 remained highly vulnerable and has been turbulent for this week.
• By end of the week prices were assessed at the level of Rs. 86/Kg for bulk quantity. Prices have reduced significantly in domestic market. The fall in values is on back of plenty of supply in the domestic market.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.86/Kg for bulk quantity. Prices reduced by Rs.2/Kg for bulk quantity.
• CFR India prices for this week were assessed in the range of USD 1190-1210/MTS, reduced by USD 20/MTS in compare to last week’s closing values.
• Benzene the major source for Phenol had decline abruptly for this week. Benzene FOB Korea prices were assessed at the level of USD 605/MT, recovered by USD 70/MTS from last week crash in the prices.
• On other side CFR China prices were assessed at the level of USD 85/MT, increased by USD 40/MTS for this week.
• China has decided to continue its imposition of anti dumping duties on nonyl Phenol imports from Taiwan and India. China has extended its anti-dumping duties (ADD) on imports of nonyl phenol from Taiwan and India for another five years.
• This is the second time that the five-year ADDs were extended following a one-year review. The trade measure was first introduced on 29 March 2007.
• “The one-year review concluded that ADD would still be necessary to prevent dumping,” the ministry said.  Nonyl phenol is mainly used in the production of surfactants and additives.
• There have been constant fluctuation include prices in international market. US has been worried for the formation of new Middle East bloc comprising of Turkey, Iran and Qatar.
• These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government.

$1 = Rs. 69.48

Import Custom Ex. Rate USD/ INR: 69.45

Export Custom Ex. Rate USD/ INR: 67.75