I. price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market this week showed an upward trend. The average price of ethylene at the weekend was $843.50/ton, 1.75% higher than the price at the beginning of the week of $829.00/ton, and the current price was 12.68% lower than last year.
II. Market analysis:
Product: ethylene is on the rise this week. Prices in the Asian ethylene market rose sharply. As of the weekend, CFR Northeast Asia closed at US $797-805 / ton, and CFR Southeast Asia closed at US $827-835 / ton. Prices in the European ethylene market fell slightly. As of the end of the week, the price in the European ethylene market was FD, northwest Europe closed at $909-912 / ton, and CIF northwest Europe closed at $821-832 / ton. The price of ethylene in the U.S. region rose. As of the end of the week, the price was 435-447 USD / ton. Overall, the ethylene market rose. The industry pays more attention to the supply and demand after the festival.
Industry chain: International: on November 14, WTI crude oil futures market in the United States rose to 56.77 US dollars / barrel, down 0.35 US dollars or 0.6% from the previous trading day, while Brent crude oil futures fell to 62.28 US dollars / barrel, down 0.09 US dollars or 0.1% from the previous trading day. On the news, US crude oil production reached a record high, US crude oil and gasoline inventories increased, and US and European crude oil futures ended slightly lower. However, the oil price drop is relatively low, which can not reflect the effect of ethylene falling. In addition, OPEC forecast in the report that the growth of economic and oil demand will be stable in 2020, and the external market of ethylene will rise. After a small increase in the price of styrene in the downstream, consolidation and high consolidation of ethanol price supported the price of ethylene.
3. Future forecast:
Ethylene analyst of the chemical branch of business society thinks: at present, the periodic rebound of crude oil is temporary intermediary. Although the tension of international trade has been relieved temporarily, the root problem has not been effectively solved. The next is the impact of economic growth slowdown and the game of oil price. The market is mainly guided by the news, so the data analysts of business club expect that the price of ethylene will keep a narrow range of shocks in the future.