Weekly Phenol Report 22nd January 2021

Weekly Price Trend: 18-01-2021 to 22-01-2021

• 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 stable-to-firm and there has been no major changes in prices for this week.
• Prices has improved by Rs.2/Kg for this week as week proceeded towards its closure.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.72/Kg for bulk quantity. Prices has reduced slightly for this week.
• CFR India prices for this week were assessed in the range of USD 710-730/MTS for this week, increased by USD 20/MTS for this week.
• On other side there has been decline in Benzene prices for this week.
• FOB Korea values for Benzene were assessed around USD 660/MT, increased reduced by USD 10/MT for this week. CFR China prices were assessed around USD 650/MT for this week.
• Market is likely to remain softened as no major announcements were heard in the international market. However the shortage in the availability of container in Middle East has affected the petrochemical segment badly and condition is likely to continue for few more weeks.
• Vaccination drive across the nation has elevated the mood in Indian domestic market. Moreover, compare to other nations there has been significant decline in the number of new cases for Corona virus which has further improved the market sentiments.
• Recently Indian stock Exch. Also crossed the mark of 50,000 points which was again god sign for the Indian economy.
• Markets are likely to remain bullish in countries like China as Lunar vacation is approaching soon.
• In crude market the demand is likely to face tough time as new strain Corona has been spreading fast in UK and other European nations. Countries like Japan, Germany and UK has already reintroduced the restrictions and some has also imposed complete lockdown again.
• On other side Saudi Arabia has announced its plant to cut the production by 1mn bbl/day in the month of February and March.

1$: Rs. 72.97

Import Custom Ex. Rate USD/ INR: 73.85

Export Custom Ex. Rate USD/ INR: 72.10