SunSirs: Less Supply; MTBE Price Soared in May
June 03 2020 10:30:25 SunSirs (Selena)
At the beginning of May, the MTBE assembly operation rate was about 36% lower, and by the end of the month, the MTBE assembly operation rate recovered to about 42%. In the early stage, the market supply of MTBE was too small, which resulted in the market price increase of MTBE significantly higher than that of gasoline. According to the data of SunSirs, the price of MTBE at the end of May was 3,660 RMB/ ton, up 14.56% from 3,200 RMB/ ton at the beginning of the month. Gasoline rose only 4.30% in the same period.
In May, when the weather turned hot, the price of gasoline increased due to the increase of automobile oil consumption, driving the market demand of MTBE and other intermediate materials, and pushing up the market price of MTBE. At the same time, WTI crude oil price rose by 70.43% in May, and market bullish sentiment was high, further pushing up MTBE market price.
According to MTBE product analyst of SunSirs, there are many negative factors such as the increase of crude oil inventory in the United States and the reduction of production in Russia. In the next half month, the international oil price is likely to fall again.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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