Price trend
According to the monitoring data of SunSirs, the external price of ethylene has recently increased. The average price of ethylene on March 1 was 1,104.75 US dollars/ton, and the average price of ethylene on the 11th was 1,196.25 US dollars/ton, an increase of 8.28%. The price increased by 23.04% from the previous month. The price increased by 64.94% year-on-year.
Analysis review
Recently, the external ethylene market has shown an overall upward trend. The Asian ethylene market price stabilized after a sharp rise. As of the 10th, CFR Northeast Asia closed at 1,198-1,204 US dollars/ton, and CFR Southeast Asia closed at 1,143-1,150 US dollars/ton. European ethylene market prices rose slightly. As of the 10th, FD Northwest Europe closed at 1,213-1,225 US dollars/ton, and CIF Northwest Europe closed at 1,214-1,225 US dollars/ton. The price of ethylene in the United States continued to rise. As of the 10th, the price was 1,035-1,047 US dollars/ton. Recently, the ethylene market in Europe, America, and Asia has shown an upward trend. Generally speaking, the trading atmosphere of the entire external ethylene market has been active recently, and the market has tended to rise.
Internationally: On March 10, the U.S. WTI crude oil futures market price rose, and the main contract settlement price was reported at 64.44 US dollars per barrel, an increase of 0.43 US dollars. Brent crude oil futures market prices rose, and the main contract settlement price was reported at 67.90 US dollars per barrel, an increase of 0.38 US dollars. Oil prices rebounded on Wednesday, as the global economic recovery is expected to heat up, and US gasoline inventories have fallen sharply. However, the surge in crude oil production after the extreme weather limits the increase in oil prices.
The styrene market has continued to fall recently. Crude oil, stocks, and futures have seen profit-taking. In addition, the destocking of East China’s main port is not as expected, and new equipment is about to be put into production. It is expected that styrene is still in the stage of consolidation in the near future, and the overall market is weakly adjusted due to the long-short stalemate.
Market outlook
In terms of crude oil: US gasoline inventories have fallen sharply, the global economic recovery is relatively optimistic, and the cost aspect is good for the ethylene market. Therefore, SunSirs data analysts predict that the external price of ethylene will increase mainly in the future. .
