According to the monitoring data of the business agency, the external price of ethylene has risen recently. On the 13th, the average price of ethylene was $728.50/t, and the price on the 17th was $727.00/t, up 1.17%. The current price is up 4.91% month on month, and the current price is down 19.63% year-on-year.
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Recently, ethylene is on the rise as a whole. Asian ethylene market prices rose, as of the 17th, CFR Northeast Asia closed at $805-815 / T, CFR Southeast Asia closed at $755-765 / T. The European ethylene market price fluctuated and consolidated. As of the 17th, the European ethylene market price was FD, northwest Europe closed at 687-698 US dollars / ton, CIF northwest Europe closed at 673-685 US dollars / ton. Ethylene prices in the U.S. rose to $523-535 per ton as of the 17th. Generally speaking, the ethylene market in Europe and the United States is on an upward trend. The demand for ethylene in the whole market is good, and the market continues to rise.
International: on September 16, the price of WTI crude oil futures market in the United States rose sharply, with the settlement price of main contracts at US $40.16/barrel, up US $1.88 or 4.90%. Brent crude oil futures market prices rose sharply, the main contract settlement price to 42.22 US dollars / barrel, up 1.69 US dollars or 4.16%. The sharp rise in oil prices was mainly due to a sharp drop in US crude oil and gasoline stocks, and a combination of hurricanes forced a large amount of oil production in the United States. Crude oil soared, giving ethylene cost support, ethylene external market continued to rise.
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Recently, the domestic styrene market has been stable and small, and some of the prices have been raised. The recent hurricane again affected the production in the Gulf area of the United States, boosting the formation of crude oil. Intraday, crude oil rose, futures, electronic trading and other horizontal trading small shocks. In terms of port inventory, the wharf inventory decreased, and the downstream operating rate generally increased, and some downstream were considered to prepare for the National Day holiday, so the demand side was improved. The styrene market continues to maintain a volatile situation in a large range. Today, the overall market price of styrene in East China is slightly higher than that in volume. Styrene in South China was raised to 5350-5450 yuan / ton, and that in North China was raised to 5350 yuan / ton.
Ethylene analysts of the chemical branch of the business agency believe that: at present, due to the impact of Hurricane “Sally” landing in the south of the United States on the same day, some offshore crude oil production capacity in the Gulf of Mexico has been shut down. International oil prices soared, cost support is strong, so business agency data analysts predict that ethylene external price will rise next.
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