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SunSirs: Energy, MTBE Market Price Continued to Fall Last Week (February 17-21)
February 24 2020 10:32:05SunSirs(Selena)

Price Trend

According to the data of SunSirs, the price of MTBE was 4,776 RMB/ ton at the end of last week, down 5.10% from the previous week.

Market Analysis

Product: refinery gasoline inventory pressure is still large, market demand for MTBE is still low. The market price of MTBE rebounded in the middle of last week due to the rise of gasoline price, but the market price of MTBE continued to fall in the later period.

Industry chain: in the late last week, driven by the continuous rise in crude oil, and in order to reduce profit loss, refineries began to increase gasoline prices, and downstream operators followed the rise in replenishment operations, but gasoline inventory is still high, MTBE market demand remains low.

MTBE Market: with the gradual improvement of China's epidemic situation, the restrictions on logistics and transportation are slightly relaxed, but the transportation capacity is still very tight. In addition, the rigid demand for gasoline raw materials is still low under the pressure of gasoline inventory in refineries. The delivery of MTBE manufacturers is poor, and the market price falls. Although most MTBE units were shut down or production load was reduced in the early stage, MTBE production continued to decline, but at present, manufacturers still have inventory, and MTBE market supply can still be guaranteed. MTBE market prices fell first, then rose and then fell last week.

Market Forecast

According to MTBE product analyst of energy branch of SunSirs, the international crude oil market is on the rise, and the impact of China's epidemic on the refined oil market is gradually reduced. It is expected that the price of gasoline market will rise in the near future. The rise of gasoline market price will drive the domestic MTBE market price up. It is expected that the domestic MTBE market price will rebound to the bottom next week.

 

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