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SunSirs: International Crude Oil Price Fluctuated at High Level, China Domestic MTBE Market Price Rose
January 21 2021 09:37:40SunSirs(Selena)

International oil prices fluctuated at a high level, gasoline prices rose slightly, and the overall start-up load of MTBE plant was still at a low level, which promoted the price rise of domestic MTBE market. According to the data of SunSirs, the price of MTBE on January 15 was 4,500 RMB/ ton, up 3.85% from the beginning of the week.

Last week, the international crude oil market was frequently bullish. WTI crude oil price rose by 2.55% and Brent crude oil price rose by 0.77%. In terms of gasoline demand, the cold weather in winter increased the willingness to travel by car. In addition, the price of domestic refined oil increased for five consecutive years, resulting in the increased willingness to trade in the terminal of refined oil market and the rising price of gasoline market.

The price of crude oil and gasoline is rising, and the market industry was bullish. In addition, the overall operating load of MTBE plant was still at a low level, and the operating rate of the plant was about 41%. With the downstream demand, the spot supply in the market continued to be tight. On the whole, China MTBE manufacturers were willing to push up the market.

SunSirs MTBE product analyst believes: it is expected that the international oil price will remain high in the short term, and the Spring Festival holiday is approaching, so the price of refined oil is expected to continue to rise. MTBE prices are expected to continue to rise in China.

 

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