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 757.75 US dollars / ton, and that on the 15th day was 773.00 US dollars / ton, up 2.01%. The current price is up 5.17% month on month, and the current price is down 11.91% year on year.
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Recently, ethylene is on the rise as a whole. Asian ethylene market prices rose, as of the 14th, CFR Northeast Asia closed at 850-860 US dollars / ton, CFR Southeast Asia closed at 825-835 US dollars / ton. European ethylene market prices fluctuated and consolidated. As of the 14th, the European ethylene market prices were FD, northwest Europe closed at 703-716 US dollars / ton, CIF northwest Europe closed at 690-701 US dollars / ton. Ethylene prices in the U.S. rose to US $479-491/t as of the 14th. The ethylene market in Europe and the United States rose slightly in the first and middle of October. Overall, the demand of the whole ethylene market was fair, and the market tended to be upward.
International: on October 14, the price of WTI crude oil futures market in the United States rose, with the settlement price of main contracts at $41.04/barrel, up $0.84. Brent crude oil futures market prices rose, with the settlement price of main contracts at $43.32/barrel, up $0.87. More than 90% of crude oil production capacity has been stagnated due to the hurricane in the Gulf of Mexico; Norwegian oil workers have gone on strike; Saudi Arabia has raised the official price of Arab light crude oil; and the EIA report at the beginning of the month showed that crude oil stocks fell by 1.98 million barrels last week. Good stimulation of international oil prices, ethylene cost support, ethylene external market continued to rise.
Recently, styrene in East China continued to rise sharply. In terms of cost, crude oil rose sharply, pure benzene and ethylene rose slowly along with the trend, and the overall cost support of styrene was strong. In terms of inventory, the social stock of styrene is still declining, and the supply is tight. Downstream start-up continued to run on the high side, strong rigid demand, some downstream prices rose sharply, driving up the price of styrene. In the aspect of styrene futures, the sharp rise and fall of styrene in the night trading had a negative impact on the opening market of styrene, and the traders on the floor were cautious in pursuing the rise, but they still had strong bullish psychology in the later period. On the 15th, the East China styrene quotation was raised to around 6000 yuan / ton, and it is expected that there is room for price increase in the mainstream.
In terms of crude oil, the implementation rate of OPEC’s production reduction is commendable, driven by the favorable stock market, and the implementation rate of OPEC production reduction is still implemented to lock in the rise of oil price. Driven by cost support, so business agency data analysts expect that ethylene external price will rise next.
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