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SunSirs: Demand rises, ethylene external disk market bottomed out
May 15 2020 08:03:17SunSirs(Molly)

1. Price trend:

According to SunSirs monitoring data, the recent ethylene external disk price has been on the rise. The average ethylene price on the 13th was US $ 396.75 / ton, and the price on the 14th was US $ 415.75 / ton, an increase of 4.79%. The current price fell by 60.43% year-on-year.

2. Market analysis:

Products: Recently, ethylene has been on the rise overall. The ethylene market price in Asia has fallen sharply. As of the 27th, CFR Northeast Asia closed at 565-575 US dollars / ton, and CFR Southeast Asia closed at 465-475 US dollars / ton. The price of the European ethylene market fluctuated and consolidated. As of the 27th, the price of the European ethylene market closed at 330-362 USD / ton for FD Northwest Europe, and closed at 284-292 USD / ton for CIF Northwest Europe. Ethylene prices in the United States are stable. As of the 14th, the price is 229-247 US dollars / ton. In general: recently, the European and American ethylene market is in a bottoming rebound trend, and the entire ethylene market is acceptable. Industry players pay more attention to the supply and demand situation after the holiday.

Industry chain: International: On May 13, the price of the US WTI crude oil futures market fell, and the main contract settlement price was reported at 25.08 yuan / barrel, a decrease of 0.65 US dollars. The price of the Brent crude oil futures market fell, and the main contract settlement price was reported at US $ 29.63 per barrel, a decrease of US $ 0.79. Although oil prices have fallen, ethylene prices are bottoming out. Demand from the entire industry in Asia has risen, and ethylene prices have risen. The downstream styrene prices have stabilized temporarily, ethanol prices have continued to remain high, giving ethylene prices support and ethylene prices rising.

3. Future market forecast:

SunSirs Chemicals Branch ethylene analysts believe that the recent decline in the European and American stock markets, the oil market still has many challenges in the later period, the support for ethylene is still unclear, so business analysts expect ethylene prices to maintain a narrow consolidation next.

4. Related listed companies:

Sinopec (600028), PetroChina (601857)

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