Price trends:
According to the monitoring data of business associations, the external price of ethylene showed an upward trend on August 15. The average price of ethylene was $945.25/ton, up 2.12% from the previous day’s price of $836.75/ton, and down 2.15% from the previous year.
Market analysis:
Products: Ethylene showed an overall upward trend on August 15. Ethylene prices in Asia rose, with CFR closing at $957-965 per ton in Northeast Asia and $857-865 per ton in Southeast Asia. Upstream crude oil prices rose, European ethylene market prices for FD in Northwest Europe closed at $1021-1032 per ton, CIF in Northwest Europe closed at $925-936 per ton. The price of ethylene in the United States rose, ranging from $368 to $381 per ton. Overall, the price of crude oil in the upstream rose sharply, which helped to support the rise of the whole ethylene market, and the market atmosphere was strong. Businessmen pay more attention to the situation of supply and demand after the festival.
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International: On August 13, the price of WTI crude oil futures rose to $57.10 per barrel, or $2.17. Brent crude oil futures rose to $61.30 per barrel, or $2.73. The U.S. Trade Representative’s Office said Wednesday that the Trump Administration will postpone the 10% tariff on some Chinese imports to the United States. Market fears about the trade war between China and the United States have eased. International crude oil closing rose sharply. WTI crude oil in the United States reached a two-week high, and Brent crude oil recorded the largest percentage increase in the year. The price of crude oil has risen, while the cost of ethylene has improved. The price of downstream styrene has rebounded slightly and the price of ethylene glycol has consolidated, which also supports the price of ethylene.
3. Future market forecast:
Ethylene analysts from Business Society Chemical Branch believe that crude oil is still in a burning market atmosphere. Macro-level economic worries will continue to plague the market. Overlapping the unresolved problems of Iran in the Middle East, the current factors affecting the crude oil market are still multi-empty and complex. Cost may support the ethylene market, and business community data analysts expect ethylene prices to remain narrowly volatile next.
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