Ethylene contract price will continue to decline i

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It is reported that the settlement price of ethylene contract in the United States in April fell by 3 cents/pound (66 dollars/ton, 50 euros/ton) due to the pressure of sharp drop in spot prices, market sources said on Tuesday. According to ICIS price, the settlement price of ethylene contract in the United States in April was 52.50 cents/pound, which was also the first time that the price of this kind of monomer fell since July 2009. Market participants said that the production cost was basically stable in April, mainly due to the sharp decline in spot prices in the second half of April

4 at the end of the month, the US spot ethylene trading price was 42 25 cents/pound, compared with the average of 67 in early April 00 cents/pound, which reduces 36.5% of the impact mass and energy when 50% of the plastic film or sheet sample is damaged. Market participants said that the contract price of ethylene would continue to decline in May because of the continuous pressure on the spot market. The spot price of ethylene delivered in May on Tuesday showed an exceptionally rapid momentum, and the inter regional ecological compensation and ecological payment systems were improved to 42.00 and 43.00 cents/pound. It is worth noting that the trading price of ethylene in June was 40.00 cents/pound. "The contract price is expected to fall by 6 or 7 cents per pound in May," market participants said

according to the analysis, the lower price of ethylene in the United States is still driven by the supply balance relationship. In the first quarter, due to a series of cracking device failures and the increase in demand, the price is rising. Now the lower price is the basic way to restore the rational supply. Chevron Phillips Chemical, ExxonMobil, Ineos, Basel and shell ethylene chemicals are the major ethylene producers in the United States. Dow Chemical, georgiagulf, oxychem and total are the buyers

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