According to the monitoring data of business agency, the external price of ethylene fluctuated higher this week. The average price of ethylene at the beginning of the week was US $1245.35/t, and the average price of ethylene at the weekend was US $1257.00/t, an increase of 0.94%. The current price increased by 7.32% month on month, and the current price increased by 23.36% year-on-year.

Recently, the external ethylene market fluctuated and rose. The price of ethylene in Asia is stable. As of the 5th, CFR Northeast Asia closed at USD 1016-1026 / T and CFR Southeast Asia closed at USD 1001-1011 / T. The price of ethylene market in Europe fluctuated and rose. As of the 5th, FD northwest Europe closed at US $1554-1563 / T and CIF northwest Europe closed at US $14037-1445 / T. The price of ethylene in the United States rose sharply, up $143 / ton in a single day. As of the 5th, the price was 893-911 yuan / ton. Recently, the external ethylene market continued to rise as a whole, mainly due to the good demand for ethylene in Europe and America, which led to the rise of the overall ethylene market.

International: on January 5, international crude oil prices rose. The settlement price of the main contract of us WTI crude oil futures was US $77.85/barrel, up US $0.86 or 1.1%, and the settlement price of the main contract of Brent crude oil futures was US $80.80/barrel, up US $0.80 or 1.0%. The oil price rose to the highest level in the last two months, mainly due to the implementation of the production increase plan of the organization of Petroleum Exporting Countries and its allies (OPEC +), the relatively conservative policy is in line with market expectations, and investors believe that the mutant virus (Omicron) has a relatively mild impact on the economy.

The styrene market continues to rise recently. The production price of styrene in Shandong was 8530.00 yuan / ton, and the price of styrene market increased. The price of pure benzene remained stable, and the support of raw materials was still strong. The position of night futures decreased. The port inventory continued to be low, the domestic short-term spot was still tight, and the production enterprises generally increased at the beginning of the month. The styrene price in Shandong was around 8450-8500 yuan / ton. The high price of styrene can support the price of ethylene.

Ethylene analysts of the chemical branch of the business agency believe that: at present, in terms of crude oil: the U.S. crude oil inventory continues to decline and the market is bullish, so the data analysts of the business agency expect the external price of ethylene to rise next.