According to the monitoring data of the business agency, the external price of ethylene rose this week. The average price of ethylene at the beginning of the week was 1256.25 US dollars / ton, and the average price of ethylene at the weekend was 1310.25 US dollars / ton, up 4.30%. The current price rose 6.39% month on month, and the current price rose 13.98% year-on-year.

This week, the external ethylene market generally showed an upward trend. Ethylene market prices in Asia rose. As of the 2nd, CFR Northeast Asia closed at US $1246-1256 / ton and CFR Southeast Asia closed at US $1246-1256 / ton. European ethylene market prices fell sharply. As of the 2nd, FD northwest Europe closed at US $1459-1467 / ton and CIF northwest Europe closed at US $1270-1278 / ton. The price of ethylene in the United States fluctuated slightly. As of the 2nd, the price was 816-834 yuan / ton. The external ethylene market rose sharply this week, which was mainly affected by the sharp rise of upstream crude oil. The price rise was gratifying, and the rise of ethylene in Europe and Asia was relatively large.

International: on March 2, international crude oil futures prices continued to rise sharply. WTI crude oil and Brent crude oil both rose above the US $110 mark, and the settlement price of the main contract of us WTI crude oil futures was US $110.60/barrel, up US $7.19 or 7.0%; The settlement price of the main contract of Brent crude oil futures was US $112.93/barrel, up US $7.96 or 7.6%. Oil prices continued to rise amid the spread of war in Ukraine. The market is expected that the sanctions imposed on Russia may lead to a large withdrawal of oil assets, and the shortage of crude oil supply is expected to further increase in the coming months.

Recently, the market price of styrene fluctuated and rose. International crude oil rose sharply, pure benzene also increased greatly, and the cost side gave strong support to styrene. At present, on the inventory side, the market supply is still abundant, the downstream is expected to maintain rigid demand, and the supply and demand side continues to be deadlocked. Styrene is likely to follow the trend of crude oil.

Analysts expect that the price of crude oil will rise strongly, so analysts from the foreign news agency expect that the price of ethylene will rise strongly.