According to the monitoring of the Business Agency, the domestic MTBE market has surged and fallen back. From March 10th to 17th, the price of MTBE fell from 7412 yuan/ton to 7237 yuan/ton, with a 2.36% decrease in price during the cycle, a 5.20% month-on-month increase in price, and a 3.50% year-on-year decrease. As the price rises to a high level, the enthusiasm for receiving goods from downstream has weakened. In addition, crude oil has declined broadly in the second half of the week, resulting in a strong pessimistic atmosphere in the market, and demand has been increasingly reduced. MTBE prices have followed the downward trend.
In terms of cost and crude oil, international crude oil has plummeted continuously, with Brent falling by more than 10%. The impact of pessimism has spread, and the market is mostly on the sidelines. The cost side is negative for the domestic oil industry chain, while the MTBE cost side is temporarily negative.
On the demand side, the gasoline market slightly decreased, while downstream demand followed suit. The MTBE demand side is temporarily negative.
As of the close of March 16th, the closing price of the Asian MTBE market was reduced by 75.50 US dollars per ton compared to the previous trading day, while FOB Singapore closed at 886.49-888.49 US dollars per ton. The closing price of the European MTBE market increased by US $14.25/ton compared to the previous trading day, while the FOB ARA closed at US $950.74-951.24/ton. The closing price of the US MTBE market increased by 33.20 US dollars per ton compared to the previous trading day, while the FOB Gulf price closed at 1190.31-1190.66 US dollars per ton (335.30-335.40 US cents per gallon).
In the future, it is predicted that the prices of gasoline and gasoline raw materials will follow the downward trend due to the continuous deep decline of crude oil, resulting in a weaker transaction. Business agency MTBE analysts believe that in the short term, the domestic MTBE market may be dominated by fluctuations and consolidation.
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