Poor demand, ethylene market price fell

1、 Price trend:

 

According to the monitoring data of the business agency, the price of ethylene in the external market has declined recently. The average price of ethylene on the 17th was $801.75/ton, down 2.64% from $823.50/ton on the 14th, and the current price is 28.80% lower than last year.

 

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2、 Market analysis:

 

Product: ethylene overall fell today. Asian ethylene market prices fell, with CFR Northeast Asia closing at $737-745 per ton and CFR Southeast Asia closing at $748-754 per ton as of 17. The price of European ethylene market fell slightly. As of the 17th, the price of European ethylene market was FD, northwest Europe closed at $907-918 / ton, and CIF northwest Europe closed at $798-809 / ton. The price of ethylene in the U.S. region remained stable. As of the 17th, the price was US $330-337 / T. overall: in the near future, the European and American ethylene market is generally in a downward trend. The demand of the whole ethylene market is poor, and the market continues to decline. The industry pays more attention to the supply and demand after the festival.

 

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Industry chain: International: on February 14, European and American crude oil futures rose for the fourth day in a row. New York commodity futures exchange West Texas light oil futures settlement price in March 2020 was $52.05 per barrel, up $0.63, up 1.2% compared with the previous trading day; London Intercontinental Exchange Brent crude oil futures settlement price in April 2020 was $57.32 per barrel, up $0.98, up compared with the previous trading day 1.7% of the price. The continuous rise of crude oil plays a supporting role in the ethylene price. In the later stage, it is good to support the ethylene price rising, but the recent weak demand and the external market of ethylene fell. The price of styrene in the lower reaches fluctuated and declined, and the price of ethanol remained stable, unable to support the price of ethylene.

 

3、 Future forecast:

 

According to ethylene analyst of business Chemical Branch, the price of crude oil has risen recently, which is good for the ethylene market. Therefore, data analyst of business Chemical Branch expects that the ethylene price will keep a narrow range of shocks in the future, not excluding the possibility of rising.

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