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SunSirs: Ethylene External Disk Market Prices Rose Due to Cost Support
July 16 2020 15:19:00SunSirs(John)

Price trend

According to the monitoring data of SunSirs, the recent external price of ethylene has slightly increased. The average ethylene price on the 14th was 738.50 US dollars/ton, and the price on the previous trading day was 737.50 US dollars/ton, an increase of 0.14%.The current price has increased by 8.48% month-on-month, and the current price has dropped by 15.50% year-on-year.

Analysis review

Recently, ethylene has shown a slight upward trend overall. The ethylene market price in Asia remained stable. As of the 14th, CFR Northeast Asia closed at 795-805 US dollars/ton, and CFR Southeast Asia closed at 700-710 US dollars/ton. The price of the European ethylene market has risen. As of the 14th, the price of the European ethylene market closed at 757-764 US dollars/ton for FD Northwest Europe, and closed at 681-689 US dollars/ton for CIF Northwest Europe. Ethylene prices in the United States were stable, as of the 14th, the price was 335-353 US dollars/ton. Generally speaking, the recent market situation of ethylene in Europe, America and Asia is mainly stable and rising. The demand of the whole ethylene market is fair, and the trading atmosphere is general, and the increase is small.

International: on July 14, the price of WTI crude oil futures market in the United States rose, with the settlement price of main contracts at 40.29 US dollars/barrel, up 0.19 US dollars. The price of Brent crude oil futures market rose, with the settlement price of main contracts rising by 0.18 US dollars to 42.90 US dollars/barrel. Crude oil rose slightly, mainly due to the implementation rate of OPEC + production reduction reaching 107%. Crude oil market rose, giving ethylene cost support, ethylene external market rose slightly.

The downstream styrene price remained stable. On the 14th, the average price of styrene was 5,366.67 US dollars/ton. On the whole, the price was still mainly sideways. In the later period, the price of pure benzene rose, and the stock market rose sharply, which was good for the upward trend of styrene price. It can give ethylene some support.

Market outlook

Ethylene analysts of SunSirs believe that: at present, crude oil stocks in the United States are decreasing, and crude oil futures in Europe and the United States are rising slightly. Cost support for ethylene is formed, and the price of ethylene is currently at a low level, so SunSirs analysts predict that ethylene prices will mainly rise next.

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

 

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