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SunSirs: China MTBE Rises with the Continuous Rise of International Oil Prices
August 26 2021 16:06:09SunSirs(Selena)

The international oil price continued to rise, coupled with the lack of equipment maintenance supply of some enterprises, the MTBE market rebounded significantly, with an increase of about 100-200 yuan / ton in two days. According to the data of SunSirs, from August 18 to August 25, the price of MTBE increased from 5,500 yuan / ton to 5,750 yuan / ton, with a price increase of 4.55% during the week, and the price remained stable month on month, with a year-on-year increase of 58.26%.

Crude oil rebounded sharply and MTBE market demand was good. Refinery shipments are good, and gasoline and diesel exceed the balance of production and sales. In the early stage, wait and see the middle and lower reaches, or a large number of goods will be replenished in the market. In addition, by the end of August, some middle and lower reaches will begin to prepare for the sales peak season.

In terms of external trading, as of the closing on August 24, the closing price of Asian MTBE market increased by $30/ ton compared with the previous trading day, and FOB Singapore closed at $705.50-707.50/ton. The closing price of European MTBE market increased by $11/ ton compared with the previous trading day, and FOB ara closed at $789.50-790/ ton. The closing price of US MTBE market increased by $20.45/ ton compared with the previous trading day, and FOB Gulf FOB closed at $727.18-727.54/ ton (204.84-204.94 cents/ gallon).

Supported by the sharp rise of crude oil, the domestic MTBE market rose sharply, but the increase was large, and the downstream enthusiasm for receiving goods at high prices weakened. SunSirs MTBE analysts believe that China domestic MTBE market may be mainly sorted out in the short term.

 

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