1、 Price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market this week shows an upward trend. The average price of ethylene at the weekend is 790.50 USD / ton, up 3.23% from 765.75 USD / ton at the beginning of the week, and the current price is down 3.12% year on year.
2、 Market analysis:
Product: ethylene is on the rise this week. Asian ethylene market prices rose, as of the weekend, CFR Northeast Asia closed at $775-785 / ton, and CFR Southeast Asia closed at $690-700 / ton. The price of European ethylene market rose slightly. As of the end of the week, the price of European ethylene market was FD, northwest Europe closed at $883-893 / ton, and CIF northwest Europe closed at $795-803 / ton. The price of ethylene in the U.S. region rose. As of the end of the week, the price was US $399-416 / ton. Overall, after new year’s day, the European and American ethylene market rose as a whole, and the whole ethylene market rose. The industry pays more attention to the supply and demand after the festival.
Industry chain: International: on January 9, WTI crude oil futures market in the United States fell to 59.56 US dollars / barrel, down 0.05 US dollars or 0.1% compared with the previous trading day, while Brent crude oil futures fell to 65.37 US dollars / barrel, down 0.07 US dollars or 0.1% compared with the previous trading day. According to the news, oil production and transportation in the Middle East have not been substantially affected. The unexpected increase of crude oil inventory in the United States has led to the decline of crude oil price. However, the rise of crude oil for three consecutive trading days in the early stage still plays a supporting role in the price of ethylene. In the later stage, it is good to support the rise of ethylene price. This week, the external market of ethylene rose. The price of styrene in the lower reaches was concussive and consolidated, and the price of ethanol remained stable, which supported the price of ethylene.
3、 Future forecast:
According to the ethylene analyst of business and chemical branch: recently disturbed by various news, although the US Iraq conflict temporarily released the easing signal, the contradiction still exists, and there is some uncertainty in the direction of the situation. Therefore, in the short term, crude oil will continue to fluctuate broadly, so the ethylene price is expected to keep a narrow range in the future, which does not exclude the possibility of rising 。