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SunSirs: Energy, The Market Price of MTBE Fell sharply in March
April 01 2020 10:24:21SunSirs(Selena)

According to the data of SunSirs, the market price of MTBE fell sharply in March. At the end of March, the price of MTBE was 3,450 RMB/ ton, down 22.18% from 4,433 RMB/ ton at the beginning of the month.

Market Analysis

Products: in March, the price of international crude oil fell sharply, the demand of gasoline market was limited, and the price of domestic gasoline market fell by 19.16% in March. In March, the price of MTBE market went down all the way, with a slight rebound at the end of the month.

Industry chain: in March, Saudi Arabia and Russia announced production increase, and COVID-19 overseas spread. The international oil price fell sharply, and the market demand for refined oil was not strong. The market price of refined oil followed the crude oil price all the way down.

Market: in the first ten days of March, the price of international crude oil market kept falling, the price of gasoline kept falling, the end consumption of gasoline was still not fully recovered, at the same time, the domestic supply capacity was abundant, and the price of domestic MTBE market kept falling. In the late ten days, international oil price rebounded slightly, gasoline production increased further, the demand for MTBE recovered gradually, but at the end of the month, the international crude oil price fell again to the low level of $20/ barrel, the trading sentiment in the gasoline market turned into a downturn, MTBE looked down after the market, and the market price fell. In the late ten days, domestic MTBE market prices rebounded slightly, but the overall trend in March was still declining.

Market Forecast

According to MTBE product analyst of SunSirs, international oil price continues to decline, MTBE price falls to a historical low since the monitoring of business news agency, in addition to refinery resumption and gasoline production increase, it is expected that MTBE market price will continue to decline with limited space.

 

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