According to the Commodity Market Analysis System of SunSirs, from September 5th to 12th, MTBE prices rose from 5,032 RMB/ton to 5,105 RMB/ton, with a price increase of 1.44% during the cycle, a month on month increase of 0.74, and a year-on-year decrease of 11.91%. With the decrease in prices, market inquiries and purchasing enthusiasm have increased, and the transaction atmosphere has temporarily improved. With the improvement of trading, some manufacturers took the opportunity to slightly push up their offers, but after the price increase, downstream acceptance weakened again and transactions became weak. Under the interweaving of bearish factors, the MTBE market as a whole has entered a stage of stagnation and consolidation, with prices mainly fluctuating sporadically and narrowly.

In terms of cost and crude oil: international oil prices rose slightly, and the main positive factors were: the Palestinian Israeli conflict intensified again, and the Russia-Ukraine conflict continued, the potential supply risk increased, and the instability of the geographical situation supported oil prices. As of September 11th, the settlement price of Brent crude oil futures for the November contract was $66.37 per barrel.

On the demand side, in terms of downstream gasoline, international crude oil futures fluctuated upwards, while the refined oil market rebounded and stopped falling. Refineries took the opportunity to push up prices, but due to the lack of significant increase in terminal demand, the increase in oil prices for refineries was limited. Meanwhile, there has been an increase in price locking and ordering operations by intermediate traders, with gas station merchants restocking appropriately, and the market trading atmosphere has heated up. The MTBE demand side is influenced by favorable factors.

Supply side: Dongming Qianhai plant may start producing products, and resource supply may increase. Short term domestic MTBE supply is affected by bearish factors.

As of the close on September 11th, the closing price of the Asian MTBE market has increased by $1.7 per ton compared to the previous trading day, with FOB Singapore closing at $673.08-675.08 per ton. The closing price of the European MTBE market decreased by $9/ton compared to the previous trading day, and FOB ARA closed at $933.49-933.99/ton. The closing price of the MTBE market in the United States decreased by $29.65/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $803.34-803.70/ton (226.83-226.93 cents/gallon).

The forecast for future raw material prices may be weak, and cost pressure may be reduced. There is room for a decline in international oil prices, and the expectation of a new round of retail price limits for refined oil products has been lowered. Negative news is looming over the oil market, and the refined oil market may be under pressure and weaken. The MTBE analyst from SunSirs believes that the domestic MTBE market is mainly characterized by fluctuations and consolidation.

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