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SunSirs: Ethylene External Disks Market Went up Due to Cost Support

June 24 2020 11:14:40     SunSirs (John)

According to the monitoring data of SunSirs, the recent price of ethylene external disks has risen. The average ethylene price on the 21st was 715.50 US dollars/ton, and the price on the 22nd was 728.80 US dollars/ton, an increase of 1.75%.The current price is up 37.10% month-on-month, and the current price is down 21.66% year-on-year.

Recently, ethylene has shown an overall upward trend. The price of the Asian ethylene market remained stable. As of the 22nd, CFR Northeast Asia closed at 835-845 US dollars/ton, CFR Southeast Asia closed at 785-795 US dollars/ton. The price of the European ethylene market has risen. As of the 22nd, the price of the European ethylene market closed at 656-666 US dollars/ton for FD Northwest Europe, and closed at 617-625 US dollars/ton for CIF Northwest Europe. thylene prices in the United States were stable. As of the 22nd, the price was 215-231 US dollars/ton. Generally speaking, the recent ethylene market in Europe, America and Asia are stable with an increase. The trading atmosphere of the entire ethylene market is good. The market has gradually increased, which is also related to the decline in the ethylene market in the previous period.

International: On June 22, the recovery of global oil demand accelerated, the price of the US WTI crude oil futures market rose, the main contract settlement price was reported at 40.46 US dollars per barrel, an increase of 0.71 US dollars. The price of the Brent crude oil futures market rose, and the main contract settlement price was reported at 43.08 US dollars/barrel, an increase of 0.89 US dollars. International oil prices rose for three consecutive trading days, giving ethylene cost support.

Downstream styrene prices rose slightly. The average ethylene price on the 21st was 5483.00 US dollars/ton, and the price on the 22nd was 5548.00 as US dollars/ton, an increase of 1.19%, which was beneficial to support the upward price of ethylene.

Ethylene analysts of SunSirs believe that: At present, crude oil: market demand is showing signs of recovery, prices continue to rise, forming a cost support for ethylene, so SunSirs data analysts expect ethylene prices to rise mainly in the near future.

 

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