SunSirs: Energy, MTBE Market Price Rose slightly in April

According to the data of SunSirs, the market price of MTBE in April was stable and then fell, but the overall price was slightly up. At the end of April, the price of MTBE was 3,216 RMB/ ton, up 5.46% from 3,050 RMB/ ton at the beginning of the month.

Market Analysis

Products: the international crude oil price fell sharply in April, and the demand of gasoline market returned to normalization. However, the domestic gasoline market price still fell by a small margin of 2.97% in April, and the MTBE market price fell after stabilizing in April, but the overall price rose by a small margin of 5.46%.

Industrial chain: in April, COVID-19 continued to spread overseas, the international crude oil storage rose sharply, WTI fell below the negative value, the domestic refined oil market was protected by the "floor price", and the gasoline market price fell steadily.

Market: at the beginning of the month, the start-up load of the refinery gradually increased, and the domestic MTBE demand was in an increasing trend, supporting the price of the downstream MTBE. WTI futures delivery began to decline in the late ten days, and the national price of oil was negative, which triggered strong bearish sentiment in domestic market. In addition, the low-cost imported MTBE resources came to Hong Kong in succession, the MTBE manufacturers had difficulty in shipping, and the price entered the downward channel. However, the domestic MTBE price rose significantly in the early stage, resulting in the domestic MTBE market price rising in April.

Marrket Forecast

According to MTBE product analyst of energy branch of SunSirs, crude oil price is expected to maintain low and domestic market price of refined oil will also keep stable operation. However, if the domestic production and living conditions are normal and the weather turns hot, the gasoline demand is on the rise. It is expected that the MTBE market price will rise steadily in May.

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