1、 Price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market is on the rise recently. The average price of ethylene on the 13th is 396.75 US dollars / ton, and on the 14th is 415.75 US dollars / ton, up 4.79%. The current price is down 60.43% year on year.
Two, market analysis:
Product: ethylene is on the rise in the near future. Asian ethylene market prices fell sharply. As of the 27th, CFR Northeast Asia closed at US $565-575 / ton, and CFR Southeast Asia closed at US $465-475 / ton. The price of European ethylene market was volatile and consolidated. As of the 27th, the price of European ethylene market was FD, northwest Europe closed at US $330-362 / ton, and CIF northwest Europe closed at US $284-292 / ton. The price of ethylene in the U.S. region remained stable. As of the 14th, the price was US $229-247 / ton. Generally speaking, the market of ethylene in Europe and the United States is bottoming out and rebounding in the near future. The whole ethylene market is fair and the market has recovered. The industry pays more attention to the supply and demand after the festival.
Industry chain: International: on May 13, WTI crude oil futures market price in the United States fell, and the settlement price of main contracts was 25.08 yuan / barrel, down $0.65. Brent crude oil futures market prices fell, the main contract settlement price at 29.63 U.S. dollars / barrel, down 0.79 U.S. dollars. Although the oil price fell, the price of ethylene rebounded to the bottom. The demand of the whole industry in Asia increased, and the ethylene market rose accordingly. The price of styrene in the downstream temporarily remained stable and the price of ethanol continued to be high, which supported the price of ethylene, and the ethylene market rose.
3、 Future forecast:
According to ethylene analysts of business agency chemical branch, in the near future, European and American stock markets have fallen, and there are still many challenges in the later oil market, and the support for ethylene is not clear, so data analysts of business agency predict that ethylene prices will keep a narrow range consolidation in the future.