SunSirs: MTBE market prices plunged this week (March 9-March 13)
March 16 2020 16:26:09 SunSirs (Molly)
1. Price trend
According to SunSirs data, the MTBE price this weekend was 4,133 yuan / ton, down 8.82% from the previous week.
2. Market analysis
Product: The price of the international crude oil market plummeted, causing panic in the domestic market. The MTBE market price fell sharply.
Industry chain: Saudi Arabia and Russia held a joint production reduction meeting encountered the Black Swan incident, crude oil supply is expected to increase significantly, and the international crude oil market has plunged by more than 40%.
In the MTBE market: International oil prices have plummeted, and market players have more bearish sentiment on the market outlook. MTBE manufacturers have difficulty shipping and the price decline is difficult to stop. Although some of the refineries that were suspended early in the middle of this month are scheduled to start, there will be a certain pulling effect on MTBE demand, but on the one hand, demand recovery is slow. Coupled with the huge drop in international oil prices, the MTBE market demand has driven a huge amount of money.
3. Market Forecast
MTBE product analysts at SunSirs believe that the price of the international crude oil market is operating at a low level, and MTBE market players have a more negative outlook on the market outlook. It is expected that the recent decline in the MTBE market price will be the main trend.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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