According to the monitoring data of business news agency, the external price of ethylene has risen recently. On February 5, the price was 969.00 US dollars / ton, and on February 8, the average price of ethylene was 970.75 US dollars / ton, up 0.18%. The current price has dropped 10.18% month on month, and the current price has increased 15.02% year on year.
In the near future, the overall external ethylene market is on the rise. The price of ethylene market in Asia was stable. As of the 5th, CFR closed at US $847-855 / T in Northeast Asia and US $827-835 / T in Southeast Asia. The price of ethylene market in Europe increased greatly. As of the 5th, FD in northwest Europe closed at US $1094-1105 / T, CIF in northwest Europe closed at US $1097-1106 / T. The price of ethylene in the U.S. rose to 760-772 US dollars / ton by the 5th. Recently, the market of ethylene in Europe, America and Asia showed a rising trend. Generally speaking, the demand of the whole ethylene market improved, the market trading atmosphere was warm, and the market rose.
International: on February 5, the price of WTI crude oil futures market in the United States rose, with the settlement price of the main contract at US $56.85/barrel, up US $0.62. Brent crude oil futures market prices rose, the settlement price of the main contract at 59.34 U.S. dollars / barrel, or 0.50 U.S. dollars. Crude oil futures continued to rise on Friday, with Brent oil prices approaching the $60 mark, mainly due to the warming of economic recovery expectations and the continued effective implementation of production control by the organization of Petroleum Exporting Countries and its allies (OPEC +).
Recently, the styrene market rose as a whole. Crude oil continued to strengthen, driving the price of pure benzene to rise, styrene cost support to strengthen, night futures high consolidation, to bring some support to the spot market. In terms of port inventory, the styrene inventory of East China’s main port this week was 109000 tons, an increase of 5500 tons over last week, a month on month increase of 5.3%, and a year-on-year decrease of 51.8%. At present, the main ports in East China are experiencing seasonal accumulation, with 30800 tons of goods arriving next week. The overall arrival volume is at a low level, and the accumulation is less than expected. However, the overall operating rate of domestic styrene is relatively high, which is maintained at 80% – 85%, and the site supply is good. On the downstream side, the start-up of the three major downstream industries is still at a high level, which is conducive to the consumption of styrene in China. Although the start-up of EPS and PS will be significantly reduced near the Spring Festival, the impact of the domestic epidemic this year is relatively small, and the overall profit of the downstream industry is in an advantage. After the year, the downstream plants will start as scheduled, and the demand will recover from the expectation of rapid recovery. In addition, due to the impact of the epidemic, the whole country advocates celebrating the Chinese new year on the spot, and some factories are expected to start work ahead of schedule. Based on the cost boost and low inventory support, it is expected that the market will be stronger in the short term and consolidation may be greater.
Ethylene analysts of business society chemical branch think: at present, in terms of crude oil, the supply of oil market is tightening, the international oil price is rising, and the cost support is strong, so the data analysts of business society expect that the external price of ethylene will mainly rise next.
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