According to the monitoring data of the business agency, the external price of ethylene has fallen recently. On the 29th, the average price of ethylene was 740.75 US dollars / ton, and on the 27th it was 753.50 US dollars / ton, down 1.69%. The current price is down 2.92% month on month, and the current price is 15.27% lower than last year.
In the near future, ethylene has shown a downward trend as a whole. Asian ethylene market prices remained stable. As of the 29th, CFR Northeast Asia closed at US $795-805 / T and CFR Southeast Asia closed at US $700-710 / T. The price of European ethylene market fell. As of the 29th, the European ethylene market price was FD, which closed at 749-758 US dollars / ton in northwest Europe and 690-698 US dollars / ton in CIF northwest Europe. The price of ethylene in the United States remained stable. As of the 29th, the price was 339-357 US dollars / ton. Generally speaking, the ethylene market in Europe and the United States is in a continuous downward trend, the demand of the whole ethylene market is weak, and the trading atmosphere is cold and clear.
International: on July 29, the price of WTI crude oil futures market in the United States rose, and the settlement price of main contracts rose by US $0.23 to US $41.27/barrel. Brent crude oil futures market prices rose, with the settlement price of main contracts at $43.09/barrel, up $0.48. Oil prices rose mainly due to the largest drop in US crude oil inventories in the year, but the surge in global epidemic cases limited the rise in oil prices. The rise of crude oil price supported the cost of ethylene. However, the oil price in the early stage dropped by a large margin, and ethylene was in the following situation for the time being, and the external market of ethylene fell.
The domestic styrene market is stable, with East China rising slightly. Port styrene storage costs continue to rise, aggravating the de stocking pressure. Futures pull up, driving the spot market prices to rise, to the end of the month, replenishment transactions. There is a bullish mentality in the market, and the low price goods supply is reduced. Supply supply weakened after the market, good support. It is expected that the market will continue to confront each other in recent days. On the whole, this week’s styrene price rebound is limited, but in the short term, it is still more negative, and the price consolidation. Limited support for ethylene.
In terms of crude oil: according to the previous agreement reached by OPEC +, the record production reduction will end in July. If OPEC + reduces the share of production reduction, it may further break the current balance of the oil market, and there is also a downward risk of oil price. So business agency data analysts expect ethylene prices to fall mainly below.
| Thiourea |