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SunSirs: Crude oil and Demand is Weak, China MTBE is Down
August 19 2021 16:09:28SunSirs(Selena)

Crude oil continues to decline and gasoline demand is weak. MTBE market fell slightly, with a decrease of about 50 yuan / ton. According to the data of SunSirs, from August 11 to August 18, the price of MTBE fell from 5,600 yuan / ton to 5,500 yuan / ton, with a decrease of 1.79% in the week, a decrease of 4.24% month on month and a year-on-year increase of 47.32%.

Crude oil continued to decline, coupled with the continued decline in the gasoline market, businesses' demand for raw material MTBE was weak, the market pessimistic atmosphere was strong, MTBE businesses' sales were not smooth, so they had no choice but to continue to make profits and promote sales. Crude oil prices fell three times in a row, and the bearish sentiment in the middle and lower reaches is increasing. Refined gasoline has not reached the balance of production and sales, gasoline and diesel inventories have been under certain pressure, and refineries will continue to reduce prices to control inventories.

In terms of external trading, as of the closing on August 17, the closing price of Asian MTBE market was reduced by $10.5/ ton compared with the previous trading day, and FOB Singapore closed at $732.5-734.5/ ton. The closing price of European MTBE market decreased by $0.25/ ton compared with the previous trading day, and FOB ara closed at $773.25-773.75/ ton. The closing price of MTBE market in the United States decreased by $12.54/ ton compared with the previous trading day, and FOB Gulf FOB closed at $714.86-715.22/ ton (201.37-201.47 cents/ gallon).

At present, the transaction in MTBE market is general. Crude oil fell four times in a row, coupled with poor gasoline sales and low interest in purchasing raw materials, the sales pressure of MTBE market remains. Business agency MTBE analysts believe that the domestic MTBE market may still decline in the short term.

At present, the transaction in MTBE market is general. Crude oil fell four times in a row, coupled with poor gasoline sales and low interest in purchasing raw materials, the sales pressure of MTBE market remains. SunSirs MTBE analysts believe that China domestic MTBE market may still decline in the short term.

 

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