The cost support of the hottest upstream raw mater

2022-07-25
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The cost support of upstream raw materials for polyethylene will be further weakened

due to the seasonal decline in US oil demand, the US government closing down the door to further curb market demand, and the reopening of negotiations on the Iranian nuclear issue, the crude oil supply is expected to increase by 2030, the US crude oil inventory will rise for five consecutive weeks, with a cumulative increase of 24.163 million barrels. Since October, WTI crude oil futures prices have continued to fall, At the beginning of the month, the price of WTI crude oil futures was $102.33/barrel. So far, the price has dropped to $96.86/barrel, with a monthly decline of 5.35%. While B can conduct sample measurement, the price of rent crude oil futures remains stable as a whole due to the weakening of the US dollar. How should manufacturers choose the price of spring testing machine at the beginning of the month? Now our technicians tell you that the price is 108.37 US dollars per barrel. Up to now, the price is 107.80 US dollars per barrel. The price is basically the same

the spot price of naphtha FOB Singapore rose slightly. At the beginning of the month, the price was US $98.97/barrel. Up to now, the price has been US $99.52/barrel. The price has remained basically stable. Due to the fall in the price of crude oil, the estimated profit of naphtha processing has changed from loss to profit. In October, the price of ethylene rose first and then fell. The overall price of CFR Southeast Asia still rose by $20/ton, and the highest price reached $1470/ton, which is the highest price in recent years; The CFR price in Northeast Asia rose by $55/ton, reaching a new record high of $1425/ton. The high ethylene price has increased the production cost of petrochemical enterprises, prompting petrochemical enterprises to continuously raise the ex factory price of PE in the early stage, and the price of LLDPE futures has therefore risen. However, the high price has affected the demand for lower entry barriers and the sharp decline in the price of crude oil, and the price of ethylene has also begun to fall

overall, there is still room for crude oil prices to continue to decline, naphtha and ethylene prices are expected to fall, and the cost support of upstream raw materials for polyethylene will be further weakened

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