1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market has declined recently. The average price of ethylene on the 7th was 468.00 US dollars / ton, down 6.96% compared with the price of 503.00 US dollars / ton on the 6th, and the current price is 55.22% lower than that of last year.

2、 Market analysis:

Product: ethylene has declined in recent days. Asian ethylene market prices fell sharply. As of the 7th, CFR Northeast Asia closed at US $375-385 / T, and CFR Southeast Asia closed at US $405-415 / T. European ethylene market prices fell, as of the 19th, the European ethylene market price for FD northwest Europe closed at $570-580 / T, CIF northwest Europe closed at $503-511 / T. The price of ethylene in the U.S. region fell. As of the 19th, the price was US $167-185 / ton. Overall, in recent years, the market of ethylene in Europe and the United States has been in a downward trend, constantly refreshing the lowest point, and the whole ethylene market has been in a downward trend. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on April 7, New York Mercantile futures exchange West Texas light oil futures settlement price in May 2020 was $23.63 per barrel, down $2.45 or 9.4% compared with the previous trading day; London Intercontinental Exchange Brent crude oil futures settlement price in June 2020 was $31.87 per barrel, down $1.18 or 3.6% compared with the previous trading day, with the overseas epidemic rising, and Saudi Arabia and Russia showed no signs of production reduction. The international crude oil market was under pressure. At the same time, domestic refineries returned to work, and the supply of refined oil increased. The market price of refined oil was under the double pressure of cost and supply. In the near future, the price of refined oil was running at a low level. Unable to support the price of ethylene, the external market of ethylene fell again, especially the price of ethylene in Asia fell sharply on the 7th, falling to an unprecedented position. After the price of downstream styrene rebounded and the ethanol market fell to the lowest level, the recent consolidation played a small role in supporting the price of ethylene, and the price of ethylene fell sharply.

3、 Future forecast:

According to ethylene analyst of business agency chemical branch, public health events are becoming more and more serious in foreign countries, and oil demand is falling sharply, which may lead to a sharp contraction of economic activities, unable to support ethylene price, so data analyst of business agency predicts that ethylene price will keep a narrow decline in the future.