Weekly Phenol Report 29th January 2021

Weekly Price Trend: 25-01-2021 to 29-01-2021

• 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 rise in the price on the last day of the week.
• Prices has improved by Rs.4/Kg for this week as week proceeded towards its closure and is likely to remain firm in the next week as well.

 Booking Scenario

INDIA & INTERNATIONAL

• This week domestic phenol market prices were assessed around Rs.74/Kg for bulk quantity. Prices has improved as the week headed for its end.
• CFR India prices for this week were assessed in the range of USD 720-730/MTS for this week, increased by USD 10/MTS for this week.
• On other side Benzene prices remained stable for this week.
• FOB Korea values for Benzene were assessed around USD 660/MT, remained unchanged for this week. CFR China prices were assessed around USD 650/MT for this week.
• Indian Market is waiting for the announcement of budget next week. All are keeping their eyes for the announcement of new policies and amendments in existing one.
• 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.

1$: Rs. 72.95

Import Custom Ex. Rate USD/ INR: 73.85

Export Custom Ex. Rate USD/ INR: 72.10