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SunSirs: China Gasoline Price goes Up, MTBE Price Rises slightly
July 28 2020 10:31:09SunSirs(Selena)

International crude oil prices soared and fell, maintaining high volatility. China gasoline market demand in the hot summer was good, which was favorable for the demand of MTBE and other intermediate materials. The price of MTBE on July 24 was 3,816 RMB/ ton, up 0.88% from the price at the beginning of the week, according to SunSirs.

In addition, the terminal oil prices are relatively high, and the demand for gasoline in the domestic market is relatively high. Refineries have a good demand for gasoline raw materials. Meanwhile, affected by the flood disaster in southern China, local oil distributors are relatively passive about the market and the overall purchasing and marketing atmosphere of MTBE market is relatively flat, mainly maintaining rigid demand.

As of July 24, the average operating load of atmospheric and vacuum distillation units was about 75%, an increase of 1% compared with last week. The recovery of gasoline production increases the demand for intermediate feedstock.

Analysts of MTBE products of energy branch of SunSirs believe that: China domestic gasoline price demand is good, which supports the demand for intermediate materials such as MTBE, but the market entry operation of the oil blending market is relatively negative, and the MTBE manufacturers' shipment is weak. It is expected that the price of China MTBE manufacturers will be stabilized in the near future.

 

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