According to the monitoring data of SunSirs, the external price of ethylene has increased recently. The average price of ethylene on the 13th was 728.50 US dollars/ton, and the price on the 17th was 727.00 US dollars/ton, an increase of 1.17%. The current price has increased by 4.91% month-on-month, and the current price has fallen by 19.63% year-on-year.
Ethylene has shown an overall upward trend recently. Ethylene market prices in Asia rose. As of the 17th, CFR Northeast Asia closed at 805-815 US dollars/ton, and CFR Southeast Asia closed at 755-765 US dollars/ton. European ethylene market prices fluctuated and consolidated. As of the 17th, European ethylene market prices closed at FD Northwest Europe at 687-698 US dollars/ton, and CIF Northwest Europe closed at 673-685 US dollars/ton. The price of ethylene in the United States has risen. As of the 17th, the price was 523-53 US dollars/ton. Generally speaking, the ethylene market in Europe and the United States is on an upward trend, and the demand for the entire ethylene market is good, and the market continues to rise.
Internationally: On September 16, the U.S. WTI crude oil futures market price soared, and the main contract settlement price was reported at 40.16 US dollars per barrel, an increase of 1.88 US dollars or 4.90%. The price of Brent crude oil futures market rose sharply, and the main contract settlement price was reported at 42.22 US dollars per barrel, an increase of 1.69 US dollars or 4.16%. The sharp rise in oil prices was mainly due to the sharp drop in US crude oil and gasoline inventories, and the hurricane forced a large amount of US oil production to be blocked. Crude oil soared, supporting the cost of ethylene, and the ethylene external market continued to rise.
Recently, the domestic styrene market has largely stabilized and some prices have risen. The recent hurricane has once again affected production in the Gulf region of the United States, boosting crude oil. During the session, crude oil rose, and futures and electronic trading fluctuated slightly. In terms of port inventory, terminal inventory has fallen, and downstream operating rates have generally increased, and part of the downstream is considering stocking for the National Day holiday, and the demand side has increased. The styrene market continues to fluctuate in a wide range. Today, East China's styrene generally shows a slight increase in market prices and a shrinking situation. Styrene in South China is raised to around 5,350-5,450 RMB/ton, and styrene in North China is raised to around 5,350 RMB/ton.
The ethylene analyst of SunSirs believes that: in terms of crude oil: Affected by the hurricane "Sally" that landed in the southern United States that day, some offshore crude oil production capacity in the US Gulf of Mexico has been shut down. International oil prices have skyrocketed and cost support is strong. Therefore, the data analysts of SunSirs predict that the external price of ethylene will increase mainly in the future.
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