SunSirs: MTBE Market Continued to Rise Last Week (9.12-9.16)

1. Price Trend

According to SunSirs, MTBE's price last weekend was 6,466 RMB/ton, up 2.11% from that of the previous week's.

2. Market Analysis

Products: Domestic MTBE market prices rose last week, MTBE market continued to rise slightly due to expectations of Mid-Autumn Holiday demand at the beginning of the week, Saudi crude oil facilities were attacked at the weekend, international crude oil prices soared, domestic MTBE market prices rose 2.11% this week.

Industry chain: Saudi crude oil facilities were attacked, resulting in 5.7 million barrels per day of crude oil shutdown. Brent crude jumped 19% in opening. The price of WTI crude oil futures is up to $63.34 per barrel. At present, the price of WTI crude oil futures is on the front line of $59 per barrel, up 7.57% from the previous trading day. China crude oil futures closed at 470.2 RMB per barrel on the 16th, up 6.28% from the previous trading day. Domestic gasoline market prices also rose 4.6%.

MTBE market: The Mid-Autumn Festival was approaching at the beginning of last week. The buying and selling atmosphere in the gasoline market had improved markedly. The middlemen purchased raw materials actively. MTBE manufacturers delivered smoothly and the spot supply in the market had further tightened. Towards the weekend, international oil prices soared, raising gasoline prices 4.6% in a single day. At the same time, the supply of Alkylation oil was not enough, and the market was still advancing at a high level. The international crude oil market continued to rise this week.

3. Market Forecast

MTBE product analysts from SunSirs believe that international oil prices will run at a high level after soaring, and the growth of travel demand for National Day in the domestic gasoline market is still guaranteed. MTBE market prices are expected to continue to rise next week.

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