According to the monitoring data of the business agency, the price of ethylene in the external market has been on the rise recently. The average price of ethylene on the 26th day was $761.00/ton, and the price on the last trading day was $731.75/ton, up 4.00%. The current price is 28.22% higher than the previous month, and the current price is 17.19% lower than the previous year.
In the near future, ethylene is on the rise as a whole. Asian ethylene market prices remained stable. As of the 26th, CFR Northeast Asia closed at US $845-855 / ton, and CFR Southeast Asia closed at US $785-795 / ton. The price of European ethylene market rose. As of the 26th, the price of European ethylene market was FD, northwest Europe closed at US $720-730 / T, and CIF northwest Europe closed at US $675-683 / T. The price of ethylene in the U.S. region has risen. As of the 26th, the price is 275-293 U.S. dollars / ton. Generally speaking, the recent market of ethylene in Europe and the United States is mainly on the rise. The demand of the whole ethylene market is improving, the trading atmosphere is active, and the rise is sufficient.
International: on June 26, WTI crude oil futures market price in the United States fell, and the settlement price of main contracts was 38.49 USD / barrel, down 0.23 USD. The price of Brent crude oil futures market fell, with the settlement price of the main contract down $0.19 to $40.93. The fall of international oil price is mainly due to the serious trend of the epidemic, which leads to the restart of market fuel demand worries. Although the crude oil market fell, the decline was small, and the large increase in the previous period still supported the cost of ethylene.
The downstream styrene price remained stable, with an average price of 5450.00 US dollars / ton on the 28th day. Generally speaking, the price was still in a high consolidation, which was good to support the upward ethylene price.
In terms of crude oil, the international oil price fell after rising for eight weeks. The continuous growth of US crude oil inventory and limited rise of international oil price cannot form cost support for ethylene, so analysts of business data expect that the price of ethylene will mainly fall in the next few days.