According to the monitoring data of the business agency, the external price of ethylene has risen recently. The average price of ethylene on the 8th day was 721.00 USD / T, and the 9th day’s price was 725.50 USD / T, up 0.62%. The current price is down 1.26% month on month, and the current price is 20.73% lower than last year.
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Recently, ethylene is on the rise as a whole. Asian ethylene market prices rose, as of the 9th, CFR Northeast Asia closed at 780-790 USD / T, CFR Southeast Asia closed at 735-745 USD / T. European ethylene market price rose, as of the 9th, the European ethylene market price was FD, northwest Europe closed at 692-703 US dollars / ton, CIF northwest Europe closed at 678-689 US dollars / ton. The price of ethylene in the U.S. rose. As of the 9th, the price was 577.5-589.5 USD / T. generally speaking, the ethylene market in Europe and America is on the upward trend, and the overall ethylene market demand is good, and the market continues to rise.
International: on September 8, WTI fell by nearly 8%, and Brent crude oil fell below $40 / barrel for the first time since June, due to concerns that demand may be suppressed due to the aggravation of global epidemic situation, as well as the resonance impact of sharp falls in US technology stocks and energy stocks. On the 8th, the US WTI crude oil futures market prices plummeted, with the settlement price of main contracts at $36.76/barrel, down $3.01. Brent crude oil futures market prices fell sharply, the main contract settlement price to 39.78 US dollars / barrel, down 2.23 US dollars. Although No. 8 crude oil fell sharply, the impact on ethylene was not reflected for the time being. Driven by the rise of crude oil in the early stage, the external market of ethylene was slightly higher.
Recently, the price of styrene in East China remained stable. Overnight crude oil continued to fall, styrene cost support weakened, pressure on styrene futures. The increase of port inventory, the sufficient supply of domestic styrene and the small increase of downstream demand resulted in the weakness of styrene fundamentals. In the near future, the price remains between 5300-5350 yuan / ton.
In terms of crude oil, the international oil price has followed the sharp fall of the stock market, coupled with the energy demand entering the off-season, and the cost support is not strong. Therefore, the data analysts of the business society predict that the external price of ethylene will mainly fall as follows.
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