I. price trend:
According to the monitoring data of the business agency, the price of ethylene in the external market has been declining recently. On the 23rd, the average price of ethylene was 840.75 USD / ton, 2.27% lower than that of 860.25 USD / ton on the 21st, and the current price is 12.97% lower than that of last year.
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II. Market analysis:
Product: ethylene has declined in recent days. Asian ethylene market prices fell in shock, as of 23, CFR Northeast Asia closed at US $678-684 / ton, and CFR Southeast Asia closed at US $768-774 / ton. European ethylene market prices fell, as of 23, the European ethylene market price for FD northwest Europe closed at $991-1002 / ton, CIF northwest Europe closed at $908-919 / ton. The price of ethylene in the U.S. region remained stable. As of the 23rd, the price was US $523-535 / ton. Overall, the price of upstream crude oil fell a while ago, and the overall ethylene market fell. The industry pays more attention to the supply and demand after the festival.
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Industry chain: International: on October 23, WTI crude oil futures market in the United States rose to 55.97 US dollars / barrel, up 1.49 US dollars or 2.7% compared with the previous trading day, while Brent crude oil futures rose to 61.17 US dollars / barrel, up 1.47 US dollars or 2.5% compared with the previous trading day. According to the news, crude oil inventory dropped unexpectedly, while the inventory of refined oil also decreased, which pushed up the oil price. However, the oil price rise was too sudden, and the pull-up effect on ethylene could not be reflected temporarily. In addition, the slowdown of economic growth and geopolitical concerns are difficult to have a greater impact on the market, and the external market of ethylene fell. The price of downstream styrene continued to consolidate and the price of ethanol fell, which could not support the price of ethylene, and had a downward trend.
3. Future forecast:
Ethylene analysts from the chemical branch of business news agency said: the U.S. crude oil inventory fell unexpectedly, and the international oil price rebounded strongly, which was good to support the rise of ethylene price. The next is the impact of economic growth slowdown and the game of oil price. The market is mainly guided by the news, so the data analysts of business club expect that the price of ethylene will keep a narrow range of shocks in the future.
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