Weekly Phenol Report 23rd October 2020

Weekly Price Trend: 19-10-2020 to 23-10-2020

• 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, there has been fluctuation in values for this week.
• Prices were assessed at the level of Rs.50.5/Kg for bulk quantity. Prices increased by Rs.3.50/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.53.5/Kg for bulk quantity.
• There has been no change in Phenol price for this week. CFR India prices for this week were assessed in the range of USD 820-840/MTS for this week.
• FOB Korea values for Benzene were assessed around USD450/MT for this week. Prices increased by USD 30/MT for this week. CFR China prices were assessed at the level of USD 457/MT for this week, increased by USD 35/MT for this week.
• There was continuous volatility in crude values for this week. On Thursday WTI crude prices were assessed around USD 40.64/MT, increased by USD 0.61/MT and Brent was assessed at the level of USD 42.64/MT, again increased by USD 0.73/MT.
• The festive season in the country has arrived with positive vibes. With upcoming holiday season and Diwali and ID holidays will add to the fresh buying for the customers. Government data are also showing improvement signs after a long overhaul due to pandemic surge in the country.
• With drop in the fresh cases and government announcement for funding of vaccine has elated the market and has brought fresh purchases. There has been good improvement in the automobile sector with highest recovery.
• Fresh purchase in the home appliances has improved as in Indian market it is general trend to make purchase of home appliances during Diwali. The offers in the market are also lucrative to attract more customers and improve the sell. There lies concern as Indian government has also shown concern for the same. The Health ministry has asked the citizens to maintain social distancing and to avoid social gatherings and sanitisation.

 $1 = Rs. 73.62

Import Custom Ex. Rate USD/ INR: 74.25

Export Custom Ex. Rate USD/ INR: 72.55