According to the Commodity Market Analysis System of SunSirs, from November 3rd to 7th, MTBE prices first rose from 5,002 RMB/ton and then fell to 4,960 RMB/ton, with a slight decrease of 0.85% during the period, a month on month decrease of 1.64%, and a year-on-year decrease of 5.94%. Downstream customers are replenishing their inventory in stages, easing the pressure on MTBE manufacturers' inventory and showing a certain willingness to raise prices. The operating rate of the equipment remains high, and some of the previously shut down manufacturers are gradually resuming production. The resource supply is showing a narrow growth trend, and the MTBE market is weakly consolidating.

On the cost side, in terms of crude oil: The international oil price has fallen, and the main negative factors are: poor global manufacturing data, market concerns about weak demand and the risk of oversupply, coupled with a significant increase in commercial crude oil inventories in the United States, which has a negative impact on oil prices. As of November 6th, the settlement price of Brent crude oil futures for the January contract was $63.38 per barrel.

In terms of demand and downstream gasoline, there is room for a decline in international oil prices, but the expected retail price limit for refined oil products has been raised in this round. The news cannot provide clear guidance to the oil market, and fundamental demand will become the main factor affecting the oil market. Both buyers and sellers should maintain rational operations, and the market has a strong wait-and-see atmosphere. The MTBE demand side is affected by bearish factors.

Supply side: The production of Bengu New Materials and Lihua Yi Dehydrogenation Plant will be affected after the start of operation, and it is expected that resource supply may increase. The supply side of MTBE is affected by negative factors.

As of the close on November 6th, the closing price of the Asian MTBE market has increased by $3.36/ton compared to the previous trading day, with FOB Singapore closing at $659.47-661.47 per ton. The closing price of the European MTBE market decreased by $23.75/ton compared to the previous trading day, and FOB ARA closed at $875.49-875.99/ton. The closing price of the MTBE market in the United States increased by $19.94/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $875.7-876.05/ton (247.26-247.36 cents/gallon).

After the future forecast falls to a certain low point, it attracts the enthusiasm of industry players to enter the market, and there is a possibility that the trading center may rise again. The MTBE analyst from SunSirs believes that the domestic MTBE market is mainly characterized by narrow fluctuations.

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