Phenol Weekly Report 8 November 2019

Weekly Price Trend: 04-11-2019 to 08-11-2019

• The above given graph focuses on the Phenol price trend for the current week.
• If we take a quick look at the above given week, prices remained weak for this week. By end of the week prices were assessed at the level of Rs. 67/Kg for bulk quantity.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.67/Kg for bulk quantity. Prices reduced significantly for this week.
• CFR India prices for this week were assessed in the range of USD 1010-1030/MTS, reduced by USD 20/MTS for this week.
• Benzene is the major raw material for Phenol production. FOB Korea values for Benzene were assessed around USD 624/MT for this week with in change in values, while CFR China prices were assessed at the level of USD 645/MT for this week.
• Crude prices have been under pressure as uncertainties around the 16-month long trade war between the United States and China exhausted the demand prospects for oil. No concrete outcome of the prolonged trade and tariff spat continue to undermine the demand prospects for Crude and push the prices lower.
• Weak economic data from China and U.S. amid fading optimism over a possible trade deal between U.S. & China might weigh on the prices.
• Moreover, rising U.S. Crude inventory levels might further weigh on the prices. On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.12 percent at $56.28 per barrel.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.15/bbl. Prices have increased by 0.80/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.55/bbl in compare to last closing price and was assessed around $62.29/bbl.

$1 = Rs. 71.24

Import Custom Ex. Rate USD/ INR: 72.00

Export Custom Ex. Rate USD/ INR: 70.30