Morning Market Briefing: Ethylene Oxide

I. Key Points

1. November 4: The Democratic Party won the U.S. midterm elections, leading market expectations to anticipate a de-escalation of tensions between the U.S. and Iran. Concerns over supply risks diminished, causing international crude oil prices to fall. NYMEX WTI crude oil futures for the December contract settled at $88.12/bbl, down $7.97/bbl (-8.29% WoW); ICE Brent crude oil futures for the January contract settled at $94.62/bbl, down $8.98/bbl (-8.67% WoW). China INE crude oil futures for the December 2026 contract fell by RMB 18.7 to RMB 676.2/bbl, with the night session dropping by RMB 47.8 to RMB 628.4/bbl.

2. November 4: Port-based ethylene USD CFR Northeast Asia price was $1,240/ton, up from the previous trading day.

3. November 4: Daily capacity utilization rate in China's ethylene oxide industry stood at 54.11%.

II. Price Table

III. Market Outlook

Ethylene oxide prices are expected to remain stable today. On the supply side, operational fluctuations within plants have been limited. Coupled with tight spot supplies from factories in East China, overall market supply remains relatively constrained. On the demand side, downstream industries are fulfilling contractual deliveries, key downstream sectors are steadily shipping products, and genuine end-user demand is providing support. Regarding feedstock, domestic spot ethylene supplies are insufficient, while derivatives' tolerance for higher prices has increased; consequently, ethylene prices may continue to rise. Overall, fundamental changes are limited, and ethylene oxide prices are projected to hold steady in the short term. Continued monitoring of upstream and downstream developments is advised.

Data Source: Chempricehub Information