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SunSirs: Cost support is unfavorable, ethylene external disk market fell
April 17 2020 15:51:29SunSirs(Molly)

1. Price Trend
According to SunSirs monitoring data, the ethylene external disk price has recently declined. The average ethylene price on the 17th was US $ 447.75 / ton, which was 4.17% lower than the US $ 467.25 / ton price on the 16th. The current price fell 57.21% year-on-year.

2. Market analysis:

Products: Recently, ethylene has been on the decline overall. The price of the ethylene market in Asia has fallen sharply. As of the 17th, CFR Northeast Asia closed at US $ 345-355 / ton, and CFR Southeast Asia closed at US $ 395-405 / ton. The price of the European ethylene market fluctuated and consolidated. As of the 17th, the European ethylene market price closed at 548-558 US dollars / ton for FD Northwest Europe, and closed at 484-492 US dollars / ton for CIF Northwest Europe. Ethylene prices in the United States have bottomed out. As of the 17th, the price was 181-193 US dollars / ton. In general: recently, the European and American ethylene market is in a downward trend, and the overall ethylene market is not good. Industry players pay more attention to the supply and demand situation after the holiday.

Industry chain: international aspects: On April 16, the price of the US WTI crude oil futures market was unchanged from the previous trading day, and the main contract was reported at 19.87 yuan / barrel. Brent crude oil futures market prices rose slightly, the main contract reported 27.82 US dollars / barrel, an increase of 0.13 US dollars. The support for ethylene prices is limited, and the ethylene external disk market has followed another round of decline. The demand in the entire industry is not good. The ethylene market continues to refresh the lowest price. The downstream styrene price temporarily stabilizes after the price decline, and the ethanol market is weakly consolidated, which cannot support ethylene prices. Effect, ethylene prices fluctuated and fell.

3. Future market forecast:

SunSirs Ethylene Analysts believes that the major oil-producing countries in the world have recently reached production reduction agreements, but oil demand is still not good, and the market is low. Decline.

4. Related listed companies:

Sinopec (600028), PetroChina (601857)

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

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