1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market this week showed a downward trend. The average price of ethylene at the weekend was $762.25/ton, down 0.29% from $764.50/ton at the beginning of the week, and the current price was 13.97% lower than last year.

2、 Market analysis:

Product: ethylene overall fell this week. Asian ethylene market prices fell, as of the end of the week, CFR Northeast Asia closed at $747-755 / ton, and CFR Southeast Asia closed at $667-675 / ton. European ethylene market prices fell slightly. As of the end of the week, the European ethylene market price of FD northwest Europe closed at US $853-866 / ton, and CIF northwest Europe closed at US $765-774 / ton. The price of ethylene in the U.S. region remained stable. By the end of the week, the price was US $346-359 / ton. Overall, during Christmas, the European and American ethylene market was closed, and the whole ethylene market fell. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on December 26, WTI crude oil futures market in the United States rose to 61.68 US dollars / barrel, up 0.57 US dollars or 0.9% over the previous trading day, while Brent crude oil futures rose to 67.92 US dollars / barrel, up 0.72 US dollars or 1.1% over the previous trading day. According to the news, OPEC has extended the production reduction agreement to 1.6 million barrels / day. In the later stage, the business community believes that in 2020, oil prices still need to pay attention to two aspects: on the one hand, the implementation of OPEC + production reduction; on the other hand, the actual decline in crude oil demand brought about by the global economic slowdown. However, in the early stage, the oil price fell by a relatively high margin, which did not play a supporting role in ethylene, and the external market of ethylene fell. The price of downstream styrene fluctuated and consolidated, and the price of ethanol remained stable, which could not play a supporting role in the price of ethylene, and there was a possibility of falling.

3、 Future forecast:

According to ethylene analysts of business and chemical branch, affected by the news that China and the United States will soon sign the first phase of economic and trade agreement, major stock markets in the world will rise, and the atmosphere of oil futures market will be boosted. Therefore, data analysts of business and chemical branch expect that the ethylene price will keep a narrow range of shocks in the future, not excluding the possibility of rising.