According to the Commodity Market Analysis System of SunSirs, the domestic MTBE market fluctuated significantly. From July 3rd to 7th, the price of MTBE dropped from 7,237 RMB/ton to 7,212 RMB/ton, with a price drop of 0.35% during the cycle and a maximum amplitude of 2.20%. The price fell 2.53% month on month and 16.33% year-on-year. The international crude oil market is supported, and traders are actively speculating. Production enterprises have repeatedly raised their factory quotations, with a total increase of 300-500 RMB/ton. However, the downstream acceptance capacity is average, and the MTBE market price immediately drops.
On the cost side, in terms of crude oil: International crude oil prices have fluctuated upwards, and WTI crude oil in the United States was closed on Tuesday. Affected by supply cuts from Saudi Arabia and Russia, prices have increased. In addition, data from the American Chamber of Petroleum (API) shows a significant decrease in US inventory last week. On July 6th, the benchmark price of Brent crude oil in the business community was 76.25 US dollars per barrel, an increase of 2.34% compared to the beginning of this month (74.51 US dollars per barrel). The domestic Petroleum industry chain is favorable, and MTBE cost preference.
On the demand side, in terms of gasoline, the gasoline market has been affected by factors such as the imposition of consumption tax on related products, which has led to a rise in prices. Due to the high oil prices at the current stage, retail gas station users have weak purchasing intentions, and transactions are mostly made with a small amount of replenishment as needed. The demand side of MTBE is influenced by bearish factors.
On the supply side, in terms of enterprises, Shenyang Wax Chemical, Luoyang Hongli, Dongying Qifa and other devices are still in parking. Shandong Huayi devices are operating normally and shipping. Luoyang Hongli has plans to start production, and MTBE supply is gradually increasing, which has a negative impact on the supply side.
As of the close on July 6th, the closing price of the Asian MTBE market has increased by $16/ton compared to the previous trading day, while FOB Singapore closed at $933.99-935.99/ton. The closing price of the European MTBE market decreased by $39.5/ton compared to the previous trading day, while the FOB ARA closed at $1,037.49- $1,037.99/ton. The closing price of the MTBE market in the United States increased by $8.35/ton compared to the previous trading day, while the FOB Gulf price closed at $933.04-933.39/ton (262.83-262.93 cents per gallon).
In the future, the operating rate of the device is high, and there are still expectations of an increase in resource supply in the later stage. However, the terminal demand is relatively weak. MTBE analysts from the business agency believe that in the short term, the domestic MTBE market situation is mainly weak and organized.
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