Morning Market Update for Ethylene Oxide

I. Key Focus Areas

1. Nov 12: The outlook for U.S.-Iran relations remains uncertain, sustaining market concerns over supply risks and driving international crude oil prices higher. NYMEX WTI futures (December contract) closed at $88.74/bbl, up $2.21/bbl (+2.55% WoW); ICE Brent futures (January contract) closed at $95.82/bbl, up $3.06/bbl (+3.30% WoW). China INE crude oil futures (SC2701 contract) fell by 11.8 to 595.9 yuan/bbl during the day session but rose by 14.6 to 610.5 yuan/bbl in the night session.
2. Nov 12: Port-based ethylene USD CFR Northeast Asia price stood at $1,240/ton, down compared to the previous trading day.
3. Nov 12: The daily capacity utilization rate of China's ethylene oxide (EO) industry was 54.17%.

II. Price Table

III. Market Outlook

Ethylene oxide prices are expected to remain stable today. On the supply side, operating loads of on-site plants fluctuated narrowly, with no significant increase in market supply, keeping overall supply stable. On the demand side, essential demand from major downstream industries supported the market, while incremental demand remained limited. Regarding costs, tight supply of ethylene in East China provided support for quoted prices; however, low external prices combined with weak downstream profitability suppressed purchasing interest, leading to a slight softening in prices. Overall, fundamentals for ethylene oxide showed limited volatility, and prices are projected to stay stable. Continued attention should be paid to changes in upstream and downstream sectors.

Data Source: Chempricehub Information