Cost supports the ethylene market

According to the monitoring data of the business agency, the price of ethylene in the external market has been on the rise recently. The average price of ethylene on the 21st day was $715.50/ton, and the price on the 22nd day was $728.80/ton, up 1.75%. The current price is 37.10% higher than the previous year, and the current price is 21.66% lower than the previous year.

In the near future, ethylene is on the rise as a whole. Asian ethylene market prices remained stable. As of the 22nd, CFR Northeast Asia closed at US $835-845 / ton, and CFR Southeast Asia closed at US $785-795 / ton. The price of European ethylene market rose. As of the 22nd, the price of European ethylene market was FD, northwest Europe closed at US $656-666 / ton, and CIF northwest Europe closed at US $617-625 / ton. The price of ethylene in the U.S. region is stable. As of the 22nd, the price is US $215-231 / ton. Generally speaking, the market of ethylene in Europe and America has been rising steadily in the near future. The trading atmosphere of the whole ethylene market is good, and the market has been rising in stages, which is also related to the large drop in the early ethylene market.

International: on June 22, the recovery of global oil demand accelerated, and the price of WTI crude oil futures market in the United States rose. The settlement price of major contracts was $40.46/barrel, or $0.71. Brent crude oil futures market price rose, the settlement price of main contracts was $43.08/barrel, up $0.89, and the international oil price rose for three consecutive trading days, supporting the cost of ethylene.

The price of downstream styrene rose slightly. The average price of ethylene on the 21st day was USD 5483.00/t, and the price on the 22nd day was USD 5548.00/t, up 1.19%, which is good for supporting the upward price of ethylene.

According to ethylene analyst of business Chemical Branch, at present, in terms of crude oil, market demand shows signs of recovery, and prices continue to rise, forming a cost support for ethylene. Therefore, data analyst of business club expects that ethylene prices will mainly rise next.