Last week, the domestic MTBE market price fell first and then rose, with an overall decline. Some enterprises adjusted their ex factory quotation for many times, at about 100-300 RMB/ton. At the beginning of the week, crude oil continued to fall deeply. In addition, the gasoline market also declined step by step. The market was pessimistic, and downstream businesses had low purchasing intentions. As the price gradually fell to a low level, and the crude oil rebounded before the weekend, the downstream replenished on bargain, and the market sales gradually improved, some regions took the opportunity to slightly increase, but the overall situation was still lower than last week.

According to the monitoring data of SunSirs, the MTBE price remained at 7,070 RMB/ton on November 25 and 6,850 RMB/ton on December 2. The price fell by 3.11% during the cycle, 0.15% month on month and 8.04% year on year.

In terms of upstream products and methanol, SunSirs monitored that the price of domestic methanol in East China ports was weak and lower, which was 2,811 RMB/ton at the beginning of the week, and 2,670 RMB/ton as of 10:00 a.m. on December 2, with a 5.04% drop in the price during the cycle. At present, the domestic methanol market is mainly consolidated.

In terms of enterprises, Shandong Chengtai New Material MTBE plant is shut down, and the quotation is 7,200 RMB/ton. Shi Dashenghua raised the MTBE by 200 RMB/ton, and offered 6,900 RMB/ton. Shandong Shenchi Chemical Co., Ltd. raised the MTBE quotation by 200 RMB/ton to 6,900 RMB/ton. The MTBE of Lihua Yilijin Petrochemical is stable, and the quotation is 6700 RMB/ton. The MTBE quotation of Dongming Qianhai Chemical increased 200 RMB/ton to 6,900 RMB/ton.

In terms of external market, as of the closing on December 1, the closing price of the Asian MTBE market had risen by 16.50 dollars/ton compared with the previous trading day, and FOB Singapore closed at 918.49-920.49 dollars/ton. The closing price of the European MTBE market rose by 9.00 dollars/ton compared with the previous trading day, and FOB ARA closed at 1,068.49-1,068.99 dollars/ton. The closing price of the US MTBE market rose by 11.54 dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 1,018.84-1,019.20 dollars/ton (287.00-287.10 US cents/gallon).

As the price fell to a low level, the willingness of the downstream to replenish on bargain hunting increased, and the desire of the merchants to be bullish grew. SunSirs MTBE analysts believe that the domestic MTBE market may still rise in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.