Crude oil price falls, ethylene market price falls

According to the monitoring data of the business news agency, the external price of ethylene has dropped recently. On March 16, the price was US $1196.25/ton, and on March 17, the average price of ethylene was US $1161.25/ton, down 2.93%. The current price has increased by 19.44% month on month, and the current price has increased by 69.59% year on year.


In the near future, the overall external ethylene market showed a downward trend. Asian ethylene market prices fell sharply. As of the 17th, CFR Northeast Asia closed at 1198-1204 US dollars / ton, CFR Southeast Asia closed at 1143-1150 US dollars / ton. The price of ethylene market in Europe fluctuated and consolidated. As of the 17th, FD closed at US $1219-1231 / T in northwest Europe and CIF closed at US $1208-1219 / T in northwest Europe. The price of ethylene in the United States is relatively stable. As of the 17th, the price is US $1288-1300 / ton. Recently, the market of ethylene in Europe, America and Asia shows a slight downward trend. Generally speaking, the external market of ethylene is cold and the market tends to go down.


International: on March 16, the price of WTI crude oil futures market in the United States closed lower, with the settlement price of the main contract at US $64.80/barrel, down US $0.59. Brent crude oil futures market prices fell slightly, the settlement price of the main contract was 68.39 US dollars / barrel, down 0.49 US dollars. Crude oil futures closed lower, mainly due to the slow recovery of US refineries after extreme weather, and the market expects us crude oil inventories to continue to rise.


Recently, the Styrene Market in Shandong continued to fall. Crude oil fell in a weak position, pure benzene price fell slightly, ethylene price was firm, and styrene cost was well supported. Due to the strong price of raw materials, the price of styrene has been greatly reduced, and the profit of styrene has been rapidly compressed to the theoretical cost, so there is limited room for further decline. On the supply side, new units are about to be put into production, of which the 450000 ton unit of Sinochem Quanzhou is planned to produce products from March 15 to 20, other pre maintenance units will also be restarted one after another, and the 600000 + 600000 ton unit of Zhejiang Petrochemical, which was reduced to 50-60% last week, has been in full production at the weekend. Although the increase of styrene export leads to the realization of terminal destocking and the continuous strength of external market, the demand for styrene is weak due to sufficient spot supply, high price and strong wait-and-see sentiment at downstream and terminal. It is expected that styrene will continue to fluctuate weakly in the short term.


Ethylene analysts of business society chemical branch think: at present, in terms of crude oil, the uncertainty of crude oil demand has hit the market enthusiasm, crude oil is on a downward trend, and it is difficult to support the ethylene market in terms of cost. Therefore, data analysts of business society expect that the external price of ethylene will mainly fall next.

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