Weekly Phenol Report 6th November 2020

Weekly Price Trend: 02-11-2020 to 06-11-2020

•  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 volatile table and firm for this week.
• Prices were assessed at the level of Rs.55/Kg for bulk quantity. Prices increased by Rs.1/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 720-740/MTS for this week.
• FOB Korea values for Benzene were assessed around USD 490/MT for this week. Prices increased by USD 40/MT for this week.
• Demand has remained firm in the domestic market. There has been limited supply from Middle East due to disruption in supply and shutdown of units.
• The festive season in the country has also improved the demand. 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 market remained subdued for this week. With upcoming Diwali festival in next week the demand remains weak for this week.
• In oil field India has requested OPEC to review its pricing policies for the Asian market and end the premium it puts on its crude for Asia in virtual OPEC-India Dialogue meeting with OPEC Secretary General Mohammad Barkindo on Thursday.
• India depends on OPEC for 78 percent of its crude oil demand, 59 percent of liquefied petroleum gas (LPG) demand, and nearly 38 percent of its liquefied natural gas (LNG) demand, the Indian minister said, noting that India imported US$92.8 billion worth of oil, gas, and petroleum from OPEC members in the 2019-2020 financial year.

 $1 = Rs. 74.20

 Import Custom Ex. Rate USD/ INR: 75.15

 Export Custom Ex. Rate USD/ INR: 73.45