External market price of ethylene continues to rise

According to the monitoring data of the business news agency, the external price of ethylene has risen recently. On February 8, the price was 970.75 US dollars / ton. On February 19, the average price of ethylene was 1003.25 US dollars / ton, up 3.35%. The current price has dropped 4.95% month on month, and the current price has increased 25.13% year on year.


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In the near future, the overall external ethylene market is on the rise. Asia’s ethylene market prices rose slightly. As of the 18th, CFR Northeast Asia closed at US $852-860 / T and CFR Southeast Asia closed at US $827-835 / T. The price of ethylene market in Europe increased greatly. By the 18th, FD in northwest Europe closed at US $1164-1177 / T, CIF in northwest Europe closed at US $1150-1161 / T. The price of ethylene in the United States soared. By the 18th, the price was 914-926 US dollars / ton. Recently, the ethylene market in Europe, America and Asia showed a rising trend. Generally speaking, during the Spring Festival holiday, the whole ethylene market kept rising, the market trading atmosphere was warm and the transaction was positive.


International: on February 18, the price of WTI crude oil futures market in the United States fell, with the settlement price of the main contract at US $60.53/barrel, down US $0.61. Brent crude oil futures market prices fell, settlement price rose, settlement price of the main contract at 63.93 U.S. dollars / barrel, down 0.59 U.S. dollars. On Thursday, oil prices rose. Brent once rose above US $65, and then the market high fell, mainly due to the impact of investment profit taking. Previously, due to the extremely cold weather in the United States, the decline of production capacity and the increase of demand have driven oil prices to rise for several days. Despite the sharp reduction of US crude oil inventory, the market is still uneasy about the current virtual high oil price, and the high selling has led to the decline of oil prices.


Recently, the overall styrene market rose sharply. On the cost side, during the Spring Festival, oil prices continued to be positive, and the price of styrene continued to rise today. However, the pure benzene port inventory is in the decline channel, coupled with the crude oil boost, it is expected that the center of gravity of pure benzene will continue to rise in the short term, which is good for the trend of styrene. On the supply side, domestic supply remains high, but imports are low and there is room for export arbitrage. Downstream, with the end of the Spring Festival holiday, the demand of the three downstream gradually returned to normal level, which brought support to the price rise of styrene. Today, the price of styrene in Shandong is around 8100-8300 yuan / ton, and that in South China is around 8500-8600 yuan / ton.


Ethylene analysts of business society chemical branch think: at present, in terms of crude oil, Iraq’s output has increased in the first half of February, the international oil price has moderately fallen, and the cost support is general. Therefore, the data analysts of business society expect that the external price of ethylene will mainly fall in the following direction.


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