SunSirs: Poor demand, the Price of China MTBE Declined slightly
July 22 2020 10:45:25 SunSirs (Selena)
The international oil price fluctuated at a high level, and the domestic gasoline price rose slightly, but the refineries maintained the rigid demand, the oil distributors were not active in entering the market, the MTBE market demand was poor, and the overall price declined slightly. According to SunSirs, the price of MTBE on July 19 was 3,793 RMB/ ton, down 2.58% from the price at the beginning of the week.
High crude oil market shocks have limited impact on the gasoline market. However, in the hot summer, more oil is used for automobile air conditioning, and the terminal demand is relatively good, which supports the upward trend of domestic gasoline prices. However, refineries maintain a just demand for gasoline raw materials, and the refineries make up for the low price. At the same time, affected by the flood disaster in southern China, the local oil distributors entered the market more passively, the overall purchasing and selling atmosphere of MTBE market was relatively flat, and the market price fell steadily.
In the first ten days of July, the operating rate of Shandong local refining Co., Ltd. dropped slightly to about 72.5%, and the gasoline output dropped slightly, and the demand for intermediate materials declined.
Analysts of MTBE products of energy branch of SunSirs believe, domestic gasoline price demand is good, but there is support for demand for MTBE and other intermediate materials, but MTBE manufacturers are weak in shipment, and it is expected that China MTBE manufacturers will still reduce the price for shipment in the near future.
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