SunSirs: Crude Oil Price Rose sharply, China Domestic MTBE Market Price Rose
January 13 2021 10:24:08 SunSirs (Selena)
Saudi Arabia's additional production reduction pushed up crude oil and gasoline prices, driving up domestic MTBE market prices. According to the data of SunSirs, the price of MTBE on January 8 was 4,333 yuan / ton, up 4.42% from the beginning of the week.
Last week, the international crude oil market was frequently bullish. Last week, the price of WTI crude oil exceeded the $50/ barrel mark, with a weekly increase of 7.67%, while the price of Brent crude oil increased 8.09%. In terms of gasoline demand, cold weather, increased demand for car travel, coupled with the sharp rise in international oil prices, the oil product market waws bullish. However, a small number of outbreaks in Hebei and Liaoning led to road control in surrounding areas, affecting terminal transactions, and limiting the price rise of gasoline market.
At present, the domestic MTBE supply and demand fundamentals basically maintain a stable situation, and the small rise of gasoline price makes the middleman's purchase intention of MTBE and other intermediate materials acceptable; in addition, the sharp rise of international crude oil price pushes up the post production cost of MTBE, and the MTBE manufacturers have serious losses, so they have a strong intention to increase.
SunSirs MTBE product analysts think: there is still space for international crude oil prices to rise, while the price of refined oil is rising steadily, but the rise is limited. At present, the inventory of MTBE manufacturers is at a low level, and it is expected that the price of MTBE still has some space to rise in China.
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