Introduction: According to market sources, the July ethylene contract has been settled in Europe. The settlement showed that the settlement price of 7 ethylene contract fell by 100 euros/ton compared with June to 1,495 euros/ton FD NWE.
html On June 329, European Central Bank President Christine Lagarde said at the annual forum of European central bank presidents held in the Portuguese city of Sintra that the huge impact of the new crown epidemic and the Russia-Ukraine crisis is changing The framework for the operation of the European economy and the background pattern of central bank design policies. "The era of high inflation in the future" may become the norm.
Affected by multiple factors such as the COVID-19 epidemic and soaring energy prices, the inflation rate in the Eurozone continues to rise. The inflation rate in May this year reached 8.1% on an annual basis. In order to cope with inflation , the European Central Bank announced on June 9 that it planned to raise interest rates by 525 basis points in July and stop net asset purchases from July 1.
With the "high fever" of inflation in the euro zone, the price trend of European ethylene market. The price trend of European ethylene is relatively weak due to its raw material structure naphtha . However, the stock processing capacity is still large, and European ethylene production and consumption are basically self-sufficient. PVC has certain exports. In addition, the characteristics of the European ethylene industry and downstream derivatives are that the pipeline network is very developed and the industrial cluster effect is relatively strong. is mainly produced in the United Kingdom and the Netherlands and is exported to Belgium and Germany. , Italy and Spain's regional markets. Taking the Antwerp Industrial Park as an example, oil refining and ethylene are showing reduced development, and future incremental investment will be more focused on fine chemicals, hydrogen energy , carbon dioxide recycling and other fields.
According to data from ChemAnalyst, UK ethylene prices fell by 1% and 0.6% respectively in the first and second weeks of June. Upstream naphtha prices fell due to fluctuations in crude oil and natural gas markets in other parts of Europe. Prices have also fallen, with German prices falling 0.9% and 0.6% in weeks 1 and 2 respectively,
Analysts said, “The current volatile market dynamics suggest that ethylene prices will fall for a while and then move upstream. Naphtha prices began to rise. However, due to the main goal of sustainability, Europe's main focus is on recycling polyethylene products rather than single-use plastics. Therefore, demand from various end-user manufacturing industries is likely to remain moderate as inflation continues to impact consumer purchasing power. "
