According to the Commodity Market Analysis System of SunSirs, from June 30th to July 4th, the price of MTBE first rose from 5,097 RMB/ton and then fell to 5,132 RMB/ton, with a price increase of 0.69% during the period, a month on month increase of 2.14%, and a year-on-year decrease of 21.79%. The domestic MTBE market is mainly characterized by narrow fluctuations, which are consolidated with changes in the crude oil market.

In terms of cost and crude oil, the rise in international oil prices is mainly due to the suspension of Iran's cooperation with the International Atomic Energy Agency and concerns about geopolitical instability in the market. Adding to this, the traditional peak consumption season in the United States is still ongoing, providing support for oil prices. As of July 3rd, the settlement price of Brent crude oil futures for the September contract was $68.80 per barrel.

On the demand side, in terms of downstream gasoline, as summer approaches and businesses travel more, there is still some positive support for gasoline terminal demand. The MTBE demand side is influenced by favorable factors.

Supply side: After the construction of Huayi Chemical Plant, the resource supply will further increase. Maoming Shihua has plans to start construction, while observing the production time of some new plants such as Kaiyi New Materials. Short term domestic MTBE supply is affected by bearish factors.

As of the close on July 3rd, the closing price of the Asian MTBE market has increased by 0.86 US dollars/ton compared to the previous trading day, with FOB Singapore closing at 659.4-661.4 US dollars/ton. The closing price of the European MTBE market decreased by $0.75/ton compared to the previous trading day, and FOB ARA closed at $858.49-858.99/ton. The closing price of the MTBE market in the United States increased by $9.98/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $691-691.36/ton (195.11-195.21 cents/gallon).

Future forecast: Currently, raw material prices are operating at a high level, and cost pressure remains significant. After the construction of Huayi Chemical Plant, the supply of resources has further increased. The MTBE analyst from SunSirs believes that the domestic MTBE market situation may weaken and consolidate.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.