1、 Price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market has been on the rise recently. The average price of ethylene on the 17th was 420.75 US dollars / ton, and on the 19th was 513.25 US dollars / ton, up 21.98%. The current price is down 51.20% year on year.
2、 Market analysis:
Product: ethylene is on the rise in the near future. Asian ethylene market prices rose, as of the 19th, CFR Northeast Asia closed at $575-585 / T, and CFR Southeast Asia closed at $530-540 / T. The price of European ethylene market rose sharply. As of the 19th, the price of European ethylene market was FD, northwest Europe closed at US $487-496 / ton, and CIF northwest Europe closed at US $442-450 / ton. The price of ethylene in the U.S. region is stable. As of the 19th, the price is US $229-247 / ton. Generally speaking, the market of ethylene in Europe and America is in an upward trend in the near future, especially in Europe. The trading atmosphere of the whole ethylene market is active and the market continues to rise. The industry pays more attention to the supply and demand after the festival.
Industry chain: International: on May 18, WTI crude oil futures market price in the United States rose, and the settlement price of main contracts was 31.65 yuan / barrel, up 2.13 US dollars or 7.2%. Brent crude oil futures market price rose, the settlement price of main contract was 34.81 US dollars / barrel, up 2.31 US dollars or 7.1%. The crude oil market rose, which supported the cost of ethylene. The price of ethylene continued to rise. The demand of the whole industry in Europe increased. The price of ethylene rose accordingly. The price of styrene in the downstream temporarily remained stable, and the price of ethanol continued to stay high. The price of ethylene continued to rise all the way.
3、 Future forecast:
According to the ethylene analyst of business Chemical Branch, the global oil supply has decreased recently, the demand has recovered, and the oil price has been rising for three days, forming a cost support for ethylene. Therefore, the data analyst of business news expects that the ethylene price will be mainly consolidated and upward next.