According to the Commodity Market Analysis System of SunSirs, the domestic MTBE market is fluctuating and rising. From September 1st to 8th, the price of MTBE increased from 7,837 RMB/ton to 7,950 RMB/ton, with a price increase of 1.44% during the cycle, a month on month increase of 2.91%, and a year-on-year increase of 7.14%. Driven by the rise in crude oil prices, coupled with the bottoming out of export orders, domestic MTBE manufacturers are holding low inventory and there is not much pressure to sell, leading to an upward trend in the market.
On the cost side, in terms of crude oil: OPEC+, an oil producing country, has extended its voluntary production reduction until the end of the year, and investors are concerned about potential supply shortages during the winter fuel demand peak.. As of the close on September 7th, the settlement price of Brent crude oil futures' main contract was at $89.92/barrel, a decrease of $0.68 or 0.8%. The domestic oil industry chain is influenced by favorable factors.
In terms of demand and gasoline, international crude oil futures have continued to rise, while the refined oil market has maintained a strong trend. The gasoline market has risen, and businesses have a high enthusiasm for MTBE purchases. The MTBE market has steadily driven up. As of the 8th, the benchmark price of gasoline for SunSirs is 9,055.60 RMB/ton. Short term MTBE demand is influenced by favorable factors.
On the supply side, facilities such as Zhou Shenyang Wax Chemical, Lihuayi, and Yantai Wanhua are still in shutdown. Lu Shenfa started production normally on September 3rd. The supply side of MTBE is mixed.
As of the close on September 7th, the closing price of the Asian MTBE market has increased by $12/ton compared to the previous trading day, while FOB Singapore closed at $1,004.05- $1,006.05/ton. The closing price of the European MTBE market increased by $15.75/ton compared to the previous trading day, while the FOB ARA closed at $1,452.99-1,453.49/ton. The closing price of the MTBE market in the United States increased by $7.67/ton compared to the previous trading day, while the FOB Gulf price closed at $1,587.73-1,588.08/ton (447.25-447.35 cents per gallon).
In the future, it is predicted that some manufacturers still have export ports, and production enterprises have low inventory. However, due to the current high level, the profits of end users are hindered, and there is a certain resistance towards high prices. SunSirs MTBE analysts believe that the domestic MTBE market is mainly characterized by high volatility in the short term.
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