US stocks fell across the board today. At the same time, China's economic data showed weakness. As a result, market concerns continued to heat up. Financial market volatility aggravated international oil prices, but Cushing's crude oil inventories are expected to continue to decline, providing some support for oil prices.
Last week, ethylene prices basically stabilized. As of the end of last week, CFR Northeast Asia closed at 879-881 US dollars / ton, CFR Southeast Asia to close at 849-851 US dollars / ton. Last week, the ethylene market in Europe did not show significant demand, and prices fell slightly. As of last week's price, FD Northwest Europe closed at 833-837 Euros/ton, and CIF Northwest Europe was 939-943 USD/ton. Last week, the price of ethylene in the United States fell, and the price was US$424-435/ton last weekend.
Last week, the quotation in most areas of polyethylene declined, and the turnover was low. According to the business community monitoring, high-density polyethylene fell by 1.96%, high-pressure polyethylene fell by 1.87%, and LLDPE fell by 0.55%. As of Monday (September 28), PE market prices were weakly consolidated. The linear futures opened lower and fluctuate, and some petrochemicals sold at a reduced price. Businessmen lacked confidence in the market outlook and accompanied a slight decline in their offer price. The enthusiasm of the terminal inquiry is not high, and the transaction is a single one. Polyethylene 1601 contract opened at 8350 yesterday, rose to the highest price 8365, then fell to the lowest price 8235, closing 8250, plate all the way down, and finally closed at Yin K line, compared with the previous trading day, fell 180 points or 2.14% , Settlement price of 8300, daily increase 1442 hands. From the position of the position, 1601 contract shorts dominated, suggesting short rallies.
The performance of the PE market was weak, and the market continued to decline slightly. Close to the National Day holiday, the market lacks clear news guidelines, and the wait-and-see atmosphere is strong. Merchants actively ship to seek transactions, and are generally cautious about the outlook. Although there was a slight increase in demand, the stability of supply basically stabilized this contradiction, and it was weak and the market was intertwined. Pre-holiday PE market is expected to be dominated by a narrow range of shocks.