Price trends:

According to the monitoring data of business associations, the price of ethylene external market in August showed a volatile upward trend. On August 28, the average price of ethylene was $941.75/ton, up 7.88% from $873.00/ton on August 1, and down 2.51% from the same period last year.

Market analysis:

Products: In August, ethylene showed an overall upward trend of shock. Asian ethylene market price shocks rose, as of 28 days, CFR in Northeast Asia closed at $888-894 per ton, CFR in Southeast Asia closed at $828-834 per ton. European ethylene market prices rose, as of 28 days, European ethylene market prices for FD in Northwest Europe closed at $1055-1066/ton, CIF in Northwest Europe closed at $978-987/ton. The price of ethylene in the United States is unstable. As of the 28th, the price of ethylene is 413-425 US dollars per ton. Overall, the price of crude oil in the upstream trend is rising, which is good to support the rise of the whole ethylene market, and the market atmosphere is strong. Businessmen pay more attention to the situation of supply and demand after the festival.

International aspect: On August 26, the price of WTI crude oil futures market fell to 53.64 US dollars per barrel, down 0.53 US dollars or 0.53% from the previous trading day, while Brent crude oil futures fell to 58.7 US dollars per barrel, down 0.64 US dollars or 1.1% from the previous trading day. The United States will begin imposing tariffs on Chinese imports on September 1. The escalation of trade disputes has raised concerns about the slowdown of global economic growth. Crude oil is still in a burning market atmosphere. Macro-level economic worries will continue to plague the market. Overlapping the unresolved problems of Iran and the Middle East, the current factors affecting the crude oil market are still multi-empty and complex. Although crude oil prices have fallen recently, they have risen sharply in the earlier period. Cost is favorable for the synchronous rise of ethylene market price. The price of downstream styrene keeps rising and the price of ethanol consolidates, which also supports the price of ethylene.

3. Future market forecast:

Ethylene analysts at Business, Social and Chemical Branch believe that crude oil prices have fallen recently due to uncertainties in Sino-US trade disputes and Iran issues. Cost side is difficult to support the ethylene market, but the price of downstream styrene is good for ethylene, so business community data analysts expect ethylene prices to remain narrowly volatile next.