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 12th was $710.00/ton, down 5.30% compared with $749.75/ton on the 9th, and the current price is 28.43% lower than last year.
| EDTA |
2、 Market analysis:
Product: ethylene has declined in recent days. Asian ethylene market prices fell, as of December 12, CFR Northeast Asia closed at $640-650 / T, and CFR Southeast Asia closed at $629-639 / T. The price of European ethylene market fell slightly. As of the 12th, the price of European ethylene market was FD, northwest Europe closed at 823-833 US dollars / ton, and CIF northwest Europe closed at 730-734 US dollars / ton. The price of ethylene in the U.S. region rebounded slightly. As of the 12th, the price was 275-287 USD / ton. Overall: in recent years, the market of ethylene in Europe and the United States has been on the decline. After the U.S. ethylene market fell to a low point, it rebounded a little, and the whole ethylene market has been on the decline. The industry pays more attention to the supply and demand after the festival.
| Melamine |
Industry chain: International: on March 11, New York Mercantile futures exchange, West Texas light oil futures settlement price in April 2020 was $32.98 per barrel, down $1.38 or 4.0% compared with the previous trading day; London Intercontinental Exchange Brent crude oil futures settlement price in May 2020 was $35.79 per barrel, down $1.43 or 3.8% compared with the previous trading day; crude oil inventory increased for seven consecutive weeks, and the price was down $1.43 or 3.8% compared with the previous trading day Georgia continued to fall sharply, unable to play a supporting role in the price of ethylene, and the external market of ethylene fell again. After the sharp fall of downstream styrene price, the consolidation and ethanol market are also at a low level, unable to support the ethylene price, and there is a possibility of further follow-up.
3、 Future forecast:
According to ethylene analyst of business Chemical Branch, Saudi Arabia and Russia have serious differences on the production reduction agreement, which has led to a sharp drop in crude oil market. It fell to its lowest level since 2017. Unable to support the price of ethylene, so business analysts expect the price of ethylene to keep a narrow decline in the future.
| EDTA 2Na |