According to the monitoring data of SunSirs, the price of ethylene outer disk market has shown a downward trend in recent days. On the 12th, the average price of ethylene was US $ 710.00/ton, down 5.30% from the price of US $ 749.75/ton on the 9th. Current prices are down 28.43% year-on-year.
Product: Recently, ethylene as a whole has shown a downward trend. Asian ethylene market prices fell. As of the 12th, CFR Northeast Asia closed at US $ 640-650/ton and CFR Southeast Asia closed at US $ 629-639/ton. The European ethylene market price fell slightly. As of the 12th, the European ethylene market price was FD Northwest Europe and North America closed at US $ 823-833/ton, and CIF North Europe and North Europe closed at US $ 730-734/ton. The price of ethylene in the United States rebounded slightly. As of the 12th, the price was 275-287 US dollars/ton. Overall: Recently, the ethylene and ethylene markets in Europe, America, and Asia are generally declining. Among them, the US ethylene market has rebounded to a low point and rebounded slightly. The overall ethylene market has experienced more than a decline. Industry players are more concerned about the supply and demand situation after the holiday.
Industrial chain: Internationally: On March 11, the April 2020 futures settlement price of West Texas Light Oil in New York Mercantile Exchange was US $ 32.98 per barrel, a decrease of US $ 1.38 or 4.0% over the previous trading day; The London Intercontinental Exchange Brent crude oil futures settlement price in May 2020 was 35.79 US dollars per barrel, which was a decrease of 1.43 US dollars or 3.8%. Crude oil inventories increased for seven consecutive weeks, and prices continued to fall sharply, which could not support the price of ethylene, and the ethylene outer disk market followed another round of decline. The downstream styrene price consolidated after the sharp decline, and the ethanol market was at a low level, which could not support the price of ethylene, and there was a possibility of further decline.
The ethylene analyst of SunSirs believes that Saudi Arabia and Russia have severely divided on the agreement to reduce production, which has led to a plunge in crude oil. It fell to its lowest level since 2017. Unable to give ethylene price support, SunSirs analyst data analysts expect ethylene prices will continue to decline narrowly.
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