Price trends:

According to the monitoring data of business associations, the price of ethylene external market rose this week. The average price of ethylene at the weekend was $948.25/ton, up 3.55% from $915.75/ton at the beginning of the week and down 1.84% from the same period last year.

Market analysis:

Product: Ethylene is on the rise this week. The price of ethylene in Asia rose sharply, with CFR closing at $898-904 per ton in Northeast Asia and $838-844 per ton in Southeast Asia by the end of the week. European ethylene market prices rose. By the end of the weekend, European ethylene market prices for FD in Northwest Europe closed at $106 8-1080 per ton, CIF in Northwest Europe closed at $972-983 per ton. Ethylene prices rose in the United States. By the end of the weekend, the price ranged from $589 to $601 per ton. Overall, the price of crude oil in the upstream was on the rise and the whole ethylene market was on the rise. Businessmen pay more attention to the situation of supply and demand after the festival.

International aspect: On September 19, the price of WTI crude oil futures market rose to 58.13 US dollars per barrel, up 0.02 US dollars, and Brent crude oil futures price rose to 64.4 US dollars per barrel, up 0.80 US dollars. The increase was 1.3%. Sources said that after the September 14 attacks, the United States was building a coalition to contain the Iranian threat. The U.S. military says it is in consultation with Saudi Arabia on how to mitigate the threat from the north. Concerns about rising geopolitical tensions in the Middle East have boosted market sentiment and oil prices. The price of downstream styrene has fallen slightly after a big rise, and the price of ethanol has been consolidated, which has limited support for the price of ethylene, but it does not affect the price of ethylene, and it is possible to keep up with the rise.

3. Future market forecast:

Ethylene analysts at Business Society Chemical Branch believe that crude oil prices have risen recently due to concerns about escalating tensions in the Middle East. For the ethylene market, the cost side forms the support, the market continues to rise, and then the changes of supply and demand in the crude oil market need further observation. The market is mainly guided by the information side. In the medium and long term, the market supply side is relatively good, so business community data analysts expect ethylene prices to continue to rise narrowly.