Morgan Stanley: Global ethylene prices are expected to decline soon

According to Dow Jones news on December 23, Morgan Stanley said on Thursday that global ethylene prices may decline soon after rising 18% in November. Morgan Stanley made this prediction based on two reasons: The first reason is that China's naphtha supply (the raw material of ethylene) may resume growth in January. The second is that the restart of the annual production capacity of 380,000 tons of cracker by Taichung Oil Company and the restart of the 700,000-ton cracker installed by Keiyo in Japan will also suppress ethylene prices. The price of downstream chemical products was generally stable, and the spread was squeezed by rising ethylene prices.