Price trend
According to the monitoring data of SunSirs, the external price of ethylene has fallen recently. The average price of ethylene on December 7 was 942.50 US dollars/ton, and the average price of ethylene on the 8th was 941.50 US dollars/ton, a decrease of 0.11%. The current price has increased by 31.49% month-on-month, and the current price has increased by 17.98% year-on-year.
Analysis review
Recently, the external ethylene market has shown a downward trend as a whole. The Asian ethylene market prices fell. As of the 7th, CFR Northeast Asia closed at 980-990 US dollars/ton, and CFR Southeast Asia closed at 905-915 US dollars/ton. European ethylene market prices fell. As of the 7th, FD Northwest Europe closed at 926-941 US dollars/ton, and CIF Northwest Europe closed at 937-948 US dollars/ton. The price of ethylene in the United States has increased significantly. As of the 7th, the price was 633-645 US dollars/ton. The market for ethylene in Europe and Asia fell slightly in early December. Generally speaking, the demand for the entire ethylene market was average, and the market atmosphere was deserted. The market fell slightly.
Internationally: On December 7, the price of the US WTI crude oil futures market fell, and the settlement price of the main contract was reported at 46.26 US dollars/barrel, a decrease of 0.62 US dollars. The price of Brent crude oil futures market fell, and the settlement price of the main contract reported 49.25 US dollars/barrel, a decrease of 0.54 US dollars. International oil prices closed down slightly on Monday, mainly due to the surge in the number of new cases and the uncertainties in Sino-US relations that have increased market tensions.
The styrene market in East China has continued to weaken and fluctuate recently. Crude oil is weak in the short-term, while pure benzene and ethylene are strong in the short-term, prices are rising, and costs support styrene well. Styrene stocks in ports have fallen to a low level, but domestic installations have restarted and increased spot supply. Downstream production and sales declined, demand weakened, and stockpiles appeared. The long-short market faced a game. The price of styrene in East China fell on the 8th, with prices around 7,800-8,150 RMB/ton.
Market outlook
The ethylene analyst of SunSirs believes that: in terms of crude oil: the number of new crown cases has surged, and the southern area of California has adopted strict lockdown measures, and the cost support is weak. Therefore, SunSirs data analysts expect the external price of ethylene to fall mainly.