SunSirs: Crude Oil and Gasoline Prices Callbacked, China MTBE Market Prices Droped slightly

Last week, the international crude oil price rebounded, the gasoline market fell slightly, the domestic demand for MTBE and other intermediate materials weakened, and the MTBE market price fell. According to the data of SunSirs, the price of MTBE on December 25 was 4,150 yuan / ton, down 1.19% compared with the price at the beginning of the week.

Last week, international crude oil prices recovered, with WTI crude oil prices down 2.05% and Brent crude oil prices down 1.76%. The recent cold weather, coupled with the advent of New Year’s Day holiday, increased demand for car travel, and after the domestic oil product price adjustment "three consecutive rises", the demand for terminal oil products increased. However, it was reported that the mutation virus was found in the UK, the international crude oil price callbacked, the domestic terminal oil market demand cooled, and the market price fell slightly. The gasoline delivery of refineries weakened, the purchasing intention of raw materials decreased significantly under the guidance of the bearish sentiment of refineries, and the price reduction and promotion actions were often taken by MTBE manufacturers when the delivery was not smooth. On the whole, the downward trend of crude oil and gasoline prices slowed down the domestic MTBE market procurement demand, resulting in the price reduction and promotion of MTBE manufacturers.

According to SunSirs MTBE analyst, although the crude oil and gasoline prices are facing the risk of continuous decline, the recent cold weather and holiday are approaching, the demand for goods preparation and replenishment in the gasoline terminal market is still, and the demand for intermediate materials such as MTBE is still. It is expected that China domestic MTBE price will fall slightly in the short term.

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