According to the monitoring data of the business agency, the external price of ethylene has risen recently. On the 16th, the average price of ethylene was 778.75 US dollars / ton, and on the 19th was 770.00 US dollars / ton, down 1.12%. The current price is up 1.82% month on month, and the current price is down 12.38% compared with last year.
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In the near future, the overall market of ethylene in the external market shows a downward trend. Asian ethylene market prices fell, with CFR Northeast Asia closing at $850-860 per ton and CFR Southeast Asia closing at $825-835 per ton as of the 20th. The European ethylene market price fell slightly. As of the 20th, the European ethylene market price was FD, which closed at 716-729 US dollars / ton in northwest Europe and 700-711 US dollars / ton in CIF northwest Europe. The price of ethylene in the United States remained stable. As of the 20th, the price was 479-491 US dollars / ton. In the middle of October, the market of ethylene in Europe and America decreased slightly. Generally speaking, the demand of the whole ethylene market was poor, and the market showed a downward trend.
International: on October 19, the U.S. WTI crude oil futures market price fell slightly, and the settlement price of the main contract was $41.06/barrel, down $0.06. Brent crude oil futures market prices fell slightly, with the settlement price of main contracts at $42.62/barrel, down $0.31. Oil prices fell slightly on Monday, mainly due to worries about the epidemic and bad news about Libya’s production increase, and hopes of a US fiscal stimulus plan curbed the decline in oil prices. Crude oil market decline can not give ethylene cost support, ethylene external market continued to fall.
Recently, the market price of styrene in East China increased slightly. In terms of cost, the second escalation of European public health events has hindered the rebound of crude oil. Recently, the price of pure benzene is stable, and the cost support of styrene is general. In terms of inventory, domestic styrene factory and port inventory continued to decline, and supply was tight. Downstream start-up continued to run on the high side, strong rigid demand, some downstream prices rose sharply, driving up the price of styrene. In the near future, the East China styrene quotation has been raised to around 6250-6300 yuan / ton, and it is expected that there is room for price increase in the mainstream.
Business agency chemical branch ethylene analysts believe: the current crude oil: Libya’s crude oil production may increase significantly, depressing the market atmosphere. Crude oil decline can not form a support for the ethylene market, so business agency data analysts predict that the next ethylene external price will mainly fall below.
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