I. price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market this week showed a downward trend. The average price of ethylene at the weekend was $837.00/ton, down 0.77% from $843.50/ton at the beginning of the week, and the current price was 13.35% lower than last year.

II. Market analysis:

Product: ethylene overall fell this week. Asian ethylene market prices fell, as of the end of the week, CFR Northeast Asia closed at $807-815 / ton, and CFR Southeast Asia closed at $808-814 / ton. The price of European ethylene market fell slightly. As of the end of the week, the price of European ethylene market was FD, northwest Europe closed at $905-908 / ton, and CIF, northwest Europe closed at $810-821 / ton. The price of ethylene in the U.S. region rose. As of the end of the week, the price was US $484-496 / ton. Overall, the overall ethylene market fell. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on November 20, WTI crude oil futures market in the United States rose to $57.11/barrel, up $1.90 or 3.4% from the previous trading day, while Brent crude oil futures rose to $62.4/barrel, up $1.49 or 2.4% from the previous trading day. According to the news, the demand for gasoline and distillate oil in the United States fell, the annual growth rate of the total inventory of oil products narrowed, and the crude oil futures in Europe and the United States closed higher. However, in the early stage, the oil price fell by a relatively high margin, which did not play a supporting role in ethylene, and the external market of ethylene fell. The price of downstream styrene fluctuated and fell, and the price of ethanol continued to consolidate, which could not play a supporting role in the price of ethylene, and there is a possibility of falling.

3. Future forecast:

According to ethylene analyst of business and chemical branch, the recent sharp rise and fall of crude oil price is mainly affected by too many short-term information factors. Including US crude oil storage data, geography, OPEC + production reduction expectation, etc., so analysts of business data expect that ethylene price will keep a narrow range of shocks in the future.