Cost support ethylene outer market price slightly up

According to the monitoring data of business agency, the external price of ethylene fluctuated and rose this week. The average price of ethylene at the beginning of the week was US $1125.25/t, and the average price of ethylene at the weekend was US $1138.00/t, an increase of 1.13%. The current price fell by 2.09% month on month, and the current price rose by 46.89% year-on-year.

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Recently, the external ethylene market has shown an overall upward trend. Asian ethylene market prices continued to rise. As of the 8th, CFR Northeast Asia closed at US $1146-1156 / T and CFR Southeast Asia closed at US $1061-1071 / T. European ethylene market prices rose slightly. As of the 8th, FD northwest Europe closed at US $1205-1215 / T and CIF northwest Europe closed at US $1105-1113 / T. The price of ethylene in the United States fell. As of the 8th, the price was US $696-714 / ton. In the recent external ethylene market, the demand is OK on the whole, showing an upward trend, and the increase is OK. The recent decline of American ethylene is dominated, and the market is poor.

Internationally: on October 8, the international oil price rose. The settlement price of the main contract of WTI crude oil futures in the United States was US $79.35/barrel, an increase of US $1.05 or 1.3%, and the settlement price of Brent crude oil futures was US $82.39/barrel, an increase of US $0.44 or 0.5%. WTI crude oil rose by more than 1%, with a cumulative increase of nearly 4% this week. Approaching winter, fuel demand increased, superimposed supply tightening was difficult to ease, and oil prices were still strong and volatile.

Styrene prices rose sharply after the festival. The styrene market continued to rise, the prices of crude oil and pure benzene rose sharply, and the cost support of styrene continued. Heze Sheng’s original 80000 T / a styrene plant was shut down in the afternoon of September 26. It was reported that it was intended to be overhauled for one month, which boosted the market information and gave positive support to the supply side.

The ethylene analyst of the chemical branch of the business agency believes that: at present, in terms of crude oil, the market is optimistic about the demand for crude oil in winter, the supply is tightening, and the cost is strong. Therefore, the data analyst of the business agency predicts that the external price of ethylene will mainly rise next.

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