SunSirs: March 23 ethylene market situation

On March 23, in the US ethylene market, FD US Gulf quoted us $625-642 / ton, down US $24 / ton. Recently, the US ethylene market rose, the demand was general, and the international crude oil futures price rose sharply. This was mainly due to the export interruption caused by the failure of the Caspian oil pipeline between Russia and Kazakhstan through OPC, which exacerbated the fear of short-term supply tension. On March 23, the settlement price of the main contract of WTI crude oil futures in the United States was US $114.93/barrel, up US $5.66 or 5.2%; The settlement price of the main contract of Brent crude oil futures was US $117.75/barrel, up US $5.92 or 5.29%. Affected by the rising price of upstream crude oil, the ethylene market may mainly rise in the later stage.

On March 23, according to the European ethylene market, FD northwest Europe quoted us $1785-1794 / ton, down US $5 / ton, CIF northwest Europe quoted us $1539-1547 / ton, down US $5 / ton, and the international crude oil futures price rose sharply. This was mainly due to the export interruption caused by the failure of the Caspian oil pipeline between Russia and Kazakhstan through OPC, which exacerbated the fear of short-term supply tension. On March 23, the settlement price of the main contract of WTI crude oil futures in the United States was US $114.93/barrel, up US $5.66 or 5.2%; The settlement price of the main contract of Brent crude oil futures was US $117.75/barrel, up US $5.92 or 5.29%. Affected by the rising price of upstream crude oil, the ethylene market may mainly rise in the later stage.

On March 23, according to the Asian ethylene market, CFR Northeast Asia quoted us $1346-1356 / ton and CFR Southeast Asia quoted us $1346-1356 / ton. The price of international crude oil futures rose sharply. This was mainly due to the export interruption caused by the failure of the Caspian oil pipeline between Russia and Kazakhstan through OPC, which exacerbated the fear of short-term supply tension. On March 23, the settlement price of the main contract of WTI crude oil futures in the United States was US $114.93/barrel, up US $5.66 or 5.2%; The settlement price of the main contract of Brent crude oil futures was US $117.75/barrel, up US $5.92 or 5.29%. Affected by the rising price of upstream crude oil, the ethylene market may mainly rise in the later stage.

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