I. Focus Points
Sep 8: Houthi forces attacked Saudi oil facilities while the US–Iran military conflict persisted, and supply risks drove international oil prices higher. NYMEX crude oil futures (October contract) settled at USD 93.03/bbl, up USD 1.55/bbl, or +1.69% period-on-period; ICE Brent futures (November contract) settled at USD 97.92/bbl, up USD 0.92/bbl, or +0.95%. On China's INE, the crude oil futures 2610 contract rose RMB 14.8/bbl to RMB 703.3/bbl, and gained another RMB 11.4/bbl in night trading to RMB 714.7/bbl.
Sep 8: Port-level ethylene USD offers were assessed at USD 1,150/mt CFR Northeast Asia, up USD 45/mt from the previous working day.
Sep 8: China's daily capacity utilization rate for the ethylene oxide industry stood at 51.60%.
II. Price Tables
| Market | Specification | Sep 7 | Sep 8 | Change | % Change |
|---|---|---|---|---|---|
| East China | / | 8300 | 8600 | +300 | +3.61% |
| Central China | / | 8550 | 9000 | +450 | +5.26% |
| North China | / | 8100 | 8400 | +300 | +3.70% |
| South China | / | 8300 | 8600 | +300 | +3.61% |
| Northeast China | / | 8100 | 8400 | +300 | +3.70% |
| Key downstream products | |||||
| East China | Polycarboxylate superplasticizer monomer (EPEG) | 9900 | 10200 | +300 | +3.03% |
| Data source: Chempricehub Information |
| Notes: 1. The two prices listed are point-in-time prices for the previous two working days, not weekly averages. 2. All RMB prices in the table above are ex-works cash-settled prices inclusive of tax. 3. The % change is the period-on-period change rate. 4. Unit: RMB/mt |
|---|
III. Market Outlook
Today, the ethylene oxide market is expected to remain firm at a high level. On the supply side, ethylene glycol prices continue to fluctuate at elevated levels, and the units that had earlier switched production have not yet been adjusted back, leaving overall ethylene oxide supply relatively tight. On the demand side, downstream industries are operating at broadly stable rates, with steady consumption as the main driver. On the cost side, spot ethylene supply is tight and producer offers remain firm, although transactions at regionally high prices have been only moderate. Overall, with near-term supply-side support and costs remaining at elevated levels, ethylene oxide prices are expected to sustain their strong momentum. Changes in upstream/downstream supply–demand conditions and any production adjustments warrant close monitoring.
| Data Item | Release Date | Previous Period Data | Expected Trend |
|---|---|---|---|
| Weekly output | Thursday 16:00 | 109,700 mt | ↗ |
| Capacity utilization rate | Thursday 16:00 | 49.26% | ↗ |
| Profit for external-purchase imported ethylene route | Thursday 16:00 | RMB 152.6/mt | ↘ |
| 1. ↓/↑ denotes a significant fluctuation, highlighting data dimensions with a change exceeding 3%; 2. ↗/↘ denotes a slight fluctuation, highlighting data dimensions with a change within 0–3%. |
Data source: Chempricehub Information
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