According to the monitoring data of the business community, the price of ethylene outside this week fluctuated, the average price of ethylene at the beginning of the week was $1225.25 / ton, the average price of ethylene at the weekend was $1265.00 / ton, up 3.24%, the current price rose 2.22%, the current price rose 30.11% compared to last year.
The external ethylene market has been mixed this week. Asian ethylene market prices rose, as of the 9th, CFR Northeast Asia closed at 1096-1106 US dollars/ton, CFR Southeast Asia closed at 1111-1121 US dollars/ton. European ethylene market price volatility consolidation, as of the 9th, FD Northwest Europe closed at 1529-1538 US dollars/ton, CIF Northwest Europe closed at 1305-1312 US dollars/ton. Ethylene prices in the United States fluctuate slightly, as of No. 9, the price is 823-841 yuan/ton, this week, the external ethylene market has risen and fallen, mainly affected by the upstream crude oil market, the price is more chaotic, and it is higher in the volatility.
International: On February 9, international crude oil prices closed up. The main contract for U.S. WTI crude oil futures settled at $89.66 a barrel, up $0.30 or 0.34 percent, while the main contract for Brent crude oil futures settled at $91.55 a barrel, up $0.77 or 0.85 percent. Oil prices got a boost after data from the U.S. Energy Information Administration (EIA) showed crude inventories fell by nearly 5 million barrels last week, adding to record demand for refined products. Cost support is better, ethylene market rise
This week, the Shandong styrene market was weak. Raw material pure benzene impact high fall, cost support weakened. The styrene market is taking profits on high, the short-term supply increment after the superposition festival, the downstream stage is still resuming work one after another, and the spot transaction is insufficient. In addition, some new units of styrene have output, negative market, and the styrene market has finished falling prices within the week.
Ethylene analysts believe that at present, crude oil: international oil prices have hit a new high in the near future, cost support is strong, and the market is improving, so business data analysts expect ethylene outer disk prices to rise next.
