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[Polyethylene] Crude oil hit a new low in nearly 20 years, and PE continued to decline due to setbacks

 Last Update: 2022-08-22
 Source: Internet
 Author: User

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The oil supply stalemate between Russia and Saudi Arabia continues, global demand is declining, and countries have successively implemented "city closures" due to the new crown epidemic, and oil prices have fallen to the lowest level in nearly 20 years

In the later period, there is no substantial positive in the international crude oil market, and the price of ethylene in Asia continues to drop, and the domestic PE market is also dragged down.
Let's take a look at the decline of PE futures

Affected by the continuous decline of international crude oil prices and the meltdown of US stocks, the domestic polyethylene market fell sharply in 2020.
The L05 contract reached a maximum of 6,985 yuan/ton within a month, and a minimum of 6,065 yuan/ton.
The price difference during the month reached 920 yuan/ton

Affected by the epidemic, the global economy has entered a recession period.
Under the unlimited easing by the Federal Reserve, the decline of various financial markets has not stopped

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