Weekly Phenol Report 30th October 2020

Weekly Price Trend: 26-10-2020 to 30-10-2020

• 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, prices remained stable and firm with no change in values for this week.
• Prices were assessed at the level of Rs.53/Kg for bulk quantity. Prices increased by Rs.2.50/Kg for this week.

Booking Scenario

INDIA & INTERNATIONAL 

• This week domestic phenol market prices were assessed around Rs.53/Kg for bulk quantity.
• There has been significant change in Phenol price for this week. CFR India prices for this week were assessed in the range of USD 760-780/MTS for this week.
• FOB Korea values for Benzene were assessed around USD450/MT for this week. Prices remained unchanged for this week.
• The festive season in the country has arrived with positive vibes. With upcoming holiday season and Diwali 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.
• Crude prices has been shrinking in global market since last few days. Prices had swung between parity and a more than 2 percent decline during Friday’s session as the “market is anxious” over renewed lockdowns in Europe and US elections next week.
• The Europe is facing the second wave of Corona and is going for complete lockdown. France entered a new lockdown on Friday as the resurgent coronavirus pandemic increasingly forced other countries to consider following suit, with Europe passing 10 million total infections and the United States posting a daily record of 90,000 cases.
• Europe has again become the epicentre of the pandemic, recording 40 percent more cases this week than the previous seven days, according to an AFP tally.
• India needs to be careful and alert as still the cases in India are second highest in the world.

$1 = Rs. 74.10

Import Custom Ex. Rate USD/ INR: 74.25

Export Custom Ex. Rate USD/ INR: 72.55