Weekly Phenol Report 9 October Report 2020

Weekly Price Trend: 05-10-2020 to 09-10-2020

• If we take a quick look at the above given weekly prices, it can be observed that domestic prices remained stable throughout this week.
• On Friday domestic values were assessed around Rs.55/Kg for bulk quantity at Kandla and for Mumbai ports of India by end of the week. Prices reduced by Rs.2/Kg for this week.

Booking Price

INDIA & INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.55/Kg for Kandla and for Mumbai ports. Domestic prices reduced significantly for this week.
• FOB Korea values for Benzene were assessed around USD 410/MT for this week. CFR China prices were assessed at the level of USD 413/MT for this week.
• There has been improvement in demand of petrochemicals in India maket past few weeks. The rise has been in particular dut to beginning of festive season across the nation. Next week there will be starting of Navratri festival which will further boost the demand for chemicals like Acetic Acid, vinyl acetate monomer, acrylonitrile, and styrene. Most of the households make changes in their houses or make heavy purchase in this festive season.
• Although this rise has been quite lower in compare to last year figures.
• End products of petrochemical industry like paints, varnishes, automotive components, appliances, adhesives, and food packaging etc all have rise in sales with inception of this festive season.
• Demand from end-consumers for paints and coatings usually rise in the run up to Diwali.
• India imported a higher volume of toluene in June and July compared with 2019 to make the most of a global price slump, which led to sustained heavy inventories in the last two months as demand did not rise in tandem.

$1 = Rs. 73.13

Import Custom Ex. Rate USD/ INR: 74.50

Export Custom Ex. Rate USD/ INR: 72.80