According to the monitoring data of the business agency, the external price of ethylene fluctuated and consolidated this week, rising slightly. The average price of ethylene at the beginning of the week was US $1176.25/t, and the average price of ethylene at the weekend was US $1187.75/t, up 0.98%. The current price rose by 5.55% month on month, and the current price rose by 66.35% year-on-year.

Recently, the external ethylene market as a whole showed a volatile upward trend. The price of ethylene in Asia is stable. As of the 3rd, CFR Northeast Asia closed at US $1196-1206 / T and CFR Southeast Asia closed at US $1111-1121 / T. European ethylene market prices rose. As of the 3rd, FD northwest Europe closed at US $1226-1236 / T and CIF northwest Europe closed at US $1200-1208 / T. The price of ethylene in the United States is stable. As of the 3rd, the price is 806-824 yuan / ton. In the recent external ethylene market, the overall demand is OK, the shock is higher, the market trading atmosphere is good, and the transaction is positive.

Internationally: on November 3, the international oil price fell sharply. The settlement price of the main contract of WTI crude oil futures in the United States was US $80.86/barrel, down US $3.05 or 3.6%, and the settlement price of Brent crude oil futures was US $81.99/barrel, down US $2.73 or 3.2%. At the macro level, the Fed tightened monetary policy and reduced the scale of bond purchase. In addition, the US Energy Information Administration (EIA) reported yesterday that US crude oil inventories increased more than expected last week. Oil prices fluctuate, giving limited support to ethylene costs.

Recently, the styrene market continues to decline slightly. Crude oil and coal prices fell at the same time, bulk commodities followed the decline, raw material pure benzene continued to be reduced by a narrow margin, the current price difference in the market period was slightly smaller, the import cost and listing price cost were supported, and the overall negotiation atmosphere was light. The cost support of styrene was temporarily stable, some shipments were closed actively in the market price decline, and the selling price was allowed. The increase of bad news suppressed some bargain hunting replenishment transactions. It is expected that the styrene market will still open low and fall slightly in the short term.

Ethylene analysts of the chemical branch of the business agency believe that: at present, in terms of crude oil: the recent crude oil market has fallen, but the overall price of crude oil is still high, so the data analysts of the business agency expect the external price of ethylene to rise next.