1、 Price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market has declined recently. The average price of ethylene on the 17th was 447.75 USD / ton, down 4.17% compared with 467.25 USD / ton on the 16th, and the current price is down 57.21% year on year.
2、 Market analysis:
Product: ethylene has declined in recent days. Asian ethylene market prices fell sharply. As of the 17th, CFR Northeast Asia closed at US $345-355 / ton, and CFR Southeast Asia closed at US $395-405 / ton. The price of European ethylene market was volatile and consolidated. As of the 17th, the price of European ethylene market was FD, northwest Europe closed at $548-558 / ton, and CIF northwest Europe closed at $484-492 / ton. The price of ethylene in the U.S. region bottomed out and rebounded. As of the 17th, the price was US $181-193 / ton. Generally speaking, the market of ethylene in Europe and America is in a downward trend in the near future, and the market of the whole ethylene market is not good. The industry pays more attention to the supply and demand after the festival.
Industry chain: International: on April 16, WTI crude oil futures market price in the United States was flat on the previous trading day, with the main contract at 19.87 yuan / barrel. Brent crude oil futures market prices rose slightly, the main contract at $27.82/barrel, up $0.13. It has a limited supporting effect on the price of ethylene, and the external market of ethylene keeps falling again. The demand of the whole industry is poor, and the ethylene market keeps refreshing the lowest price. After the price of styrene in the downstream drops, it temporarily maintains stability, and the ethanol market is weak and consolidated, which can not support the price of ethylene, and the price of ethylene fluctuates and falls.
3、 Future forecast:
According to ethylene analysts of business and chemical branch, recently major oil producing countries have reached production reduction agreements, but oil demand is still poor, the market is low and consolidated, unable to support ethylene price, so data analysts of business and chemical branch expect that ethylene price will keep a narrow downward slide in the future.