SunSirs: Low Downstream Demand Leads to the Decline of China MTBE Market
April 07 2021 13:41:02 SunSirs (Selena)
International oil prices fall more than rise less, bad market mentality, coupled with the general sales of gasoline market itself, the demand for raw material MTBE is flat. According to the data of SunSirs, as of April 1, the price of MTBE was 5,693 RMB/ ton, which was still up 8.03% month on month and 86.67% year on year.
Gasoline itself is generally sold, and the demand for raw material MTBE is limited; the prices of other gasoline raw materials such as mixed aromatics and alkylation are lower than MTBE, which is bad for MTBE market. Recently, the prices of mixed aromatics and alkylation are about 250-300 lower than those of MTBE, which puts some pressure on the MTBE market. All parties are bullish. Last week, the MTBE market continued to decline slightly. In Shandong Province, due to the start of some factories this week and the influence of some low-cost goods in Northeast China, the sales of merchants are not smooth, and the price is slightly profitable, with a drop of 100 RMB/ ton.
In terms of external market, as of April 1, the FOB Gulf price of the United States closed at 214.50-214.60 cents/ gallon ($761.48-761.83/ ton), FOB ARA of Europe closed at $688-688.5/ ton, and FOB Singapore Asia closed at $711-713/ ton.
Restrained by the decline of crude oil and weak demand, MTBE market continued to decline and adjust last week. SunSirs MTBE analysts believe that in the short term, China domestic MTBE market will be low and volatile.
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