Phenol Weekly Report 7 Dec 2018
Weekly Price Trend: 03-12-2018 to 07-12-2018
- 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. 94/Kg for bulk quantity. Prices reduced by Rs.94/Kg for this week .
Booking Scenario
INDIA & INTERNATIONAL
- This week domestic phenol market prices were assessed around Rs.94/Kg for bulk quantity. Prices have decreased sharply.
- CFR India prices for this week were assessed in the range of USD 1320-1340/MTS, prices have decreased by USD 30/MT in compared to last assessed values.
- In the month of October prices were assessed in the range Rs150/Kg which has now declined to the level of Ra.101/Kg in domestic market.
- The steep fall in the crude values in international market has let to strong decline in the Benzene and Phenol prices.
- Benzene FOB Korea prices declined by more than USD 15/MT in this week. FOB Korea values were assessed around USD 640/MT. On other side CFR China prices remained stable for this week. CFR south East Asia price were evaluated at USD 670/mt.
- Market is looking forward for China and US trade war. Oil prices fell on Friday as Opec discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board. International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 per cent from their last close.
- On other side India has signed an agreement with Iran to pay for crude oil t imports from the Persian Gulf nation in rupees, Under US sanctions, India can export foodgrains, medicines and medical devices to Iran. India had won the exemption after it agreed to cut imports maximum of 300,000 barrels a day of crude oil. This compares to an average daily import of about 560,000 barrels this year.
$1 = Rs. 70.77
Import Custom Ex. Rate USD/ INR: 71.75
Export Custom Ex. Rate USD/ INR: 70.05
