1、 Price trend:

According to the monitoring data of the business agency, the price of ethylene in the external market has shown a downward trend in recent days. The average price of ethylene on the 6th was 749.75 US dollars / ton, 2.79% lower than the price of 771.25 US dollars / ton on the 2nd, and the current price is 27.98% lower than that of last year.

2、 Market analysis:

Product: ethylene has declined in recent days. Asian ethylene market prices fell, as of the 6th, CFR Northeast Asia closed at $693-699 per ton, and CFR Southeast Asia closed at $687-695 per ton. The price of European ethylene market fell slightly. As of the 6th, the price of European ethylene market was FD, northwest Europe closed at US $853-863 / T, and CIF northwest Europe closed at US $752-760 / T. The price of ethylene in the U.S. picked up slightly. As of the 6th, the price was US $306-324 / ton. Overall, the market of ethylene in Europe and the United States has been declining in recent years. Only after the U.S. ethylene market fell to the lowest point, it picked up, but it is still at a low level. The demand of the whole ethylene market is weak and falling. The industry pays more attention to the supply and demand after the festival.

Industry chain: International: on March 5, New York Mercantile futures exchange, West Texas light oil futures settlement price in April 2020 was $45.90 per barrel, down $0.88 or 1.9% compared with the previous trading day, while Brent crude oil futures settlement price in May 2020, London Intercontinental Exchange, was $49.99 per barrel, down $1.14 or 2.2% compared with the previous trading day, and crude oil continued to fall sharply, with respect to ethylene Prices can not play a supporting role, the ethylene market fell. The lower price of styrene and the sharp decline of ethanol market in the downstream cannot support the price of ethylene, and there is a possibility of further decline.

3、 Future forecast:

According to ethylene analyst of business and chemical branch, oil futures closed lower on Thursday recently, among which Brent crude oil, as the international crude oil price benchmark, fell below the $50 threshold to the lowest level since 2017. Unable to support the price of ethylene, so business analysts expect the price of ethylene to keep a narrow decline in the future.