According to the monitoring data of the business agency, the external price of ethylene has increased slightly recently, with a shock rise. The average price of ethylene on the 4th was US $1148.25/ton, and the average price of ethylene on the 5th was US $1152.75/ton, an increase of 0.39%. The current price has increased by 11.84% month on month, and the current price has increased by 56.68% year-on-year.
Recently, the external ethylene market has shown an overall upward trend. The ethylene market price in Asia declined slightly. As of the 4th, CFR Northeast Asia closed at USD 966-976 / T and CFR Southeast Asia closed at USD 1001-1011 / T. The price center of ethylene market in Europe moved upward. As of the 4th, FD northwest Europe closed at US $1364-1372 / T and CIF northwest Europe closed at US $1262-1276 / T. The price of ethylene in the United States continued to rise. As of the 4th, the price was US $1099-1117 / T. recently, the external ethylene market fluctuated and rose, the recent increase of ethylene in the United States was large, and ethylene in Europe also continued to fluctuate and rise. Generally speaking, the overall ethylene external market demand is good recently, the market trading atmosphere is active, the transaction situation is good, and the ethylene market as a whole shows an upward trend.
Internationally: on August 4, the international oil price fell sharply. The settlement price of the main contract in the U.S. WTI crude oil futures market was US $68.15/barrel, down US $2.41 or 3.41%, and the settlement price of the main contract in Brent crude oil futures market was US $70.38/barrel, down US $2.08 or 2.87%. Oil prices have fallen for three consecutive trading days, mainly due to the unexpected sharp increase in crude oil inventories released by the U.S. energy information administration on Wednesday. In addition, the market’s concern about the slowdown in demand caused by delta virus has been further amplified, as well as the concern about the oversupply caused by the increase in production in oil producing countries.
The price of styrene has been lowered recently. At night, crude oil fell sharply, pure benzene and US dollar styrene both fell, and futures fell. However, some bargain hunters increased their positions slightly, suppressing today’s spot market. At the beginning of August, the port inventory increased, and there was still the expectation of accumulating inventory in a short time. In addition, the supply of Gulei styrene was increasing. In the downstream, the prices of EPS and PS remained stable, ABS fell slightly, the demand performance was general, mainly for just needed procurement, and the replenishment was limited. Unable to support the ethylene market.
The ethylene analyst of the chemical branch of the business agency believes that: at present, in terms of crude oil: the international oil price has fallen continuously recently, the market is pessimistic about the demand for crude oil, and the support for the ethylene market is weak. Therefore, the data analyst of the business agency predicts that the external price of ethylene will mainly fall next.
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