According to the Commodity Market Analysis System of SunSirs, from February 2nd to 6th, MTBE prices first fell and then rose from 4,883 RMB/ton to 4,903 RMB/ton, with a price increase of 0.41% during the period, a month on month increase of 1.03%, and a year-on-year decrease of 18.55%. The domestic MTBE market first suppressed and then rose, with fluctuating price trends. After reaching a high point in the early part of the week, the price encountered downstream resistance, and the crude oil trend was poor. The MTBE market fluctuated and retreated, and after falling to a certain low point, international crude oil prices rose again. Coupled with the pre holiday demand for terminal operators to replenish inventory, manufacturers once again pushed up the offer with positive support.
In terms of cost and crude oil, international oil prices have fluctuated sharply, falling first and then rising. The main influencing factors are: at the beginning of the week, the United States and Iran maintained dialogue and negotiation options, and the situation showed signs of easing. Coupled with the recent strengthening of the US dollar, oil prices are under pressure and falling. In the past two days, there have been differences in some details of the talks between the United States and Iran, and the market is concerned that the breakdown of negotiations will exacerbate geopolitical risks, which has supported a significant increase in oil prices. As of February 4th, the settlement price of Brent crude oil futures for the April contract was $67.55 per barrel.
On the demand side, in terms of downstream gasoline, international crude oil futures first suppressed and then rebounded, and the refined oil market followed its trend of falling and then rebounding. Refineries adjusted oil prices in line with the pace of crude oil. However, the current performance of terminal demand is unsatisfactory, and intermediate traders are cautious in locking prices and ordering operations. Downstream users maintain medium to high inventory levels for procurement and sales, and market transactions are mainly small orders. The MTBE demand side is influenced by favorable factors.
Supply side: Haierxi plant in Henan may have a shutdown plan, and it is expected that resource supply will be reduced narrowly. The supply of MTBE is affected by favorable factors.
As of the close on February 5th, the closing price of the Asian MTBE market has increased by $2.5/ton compared to the previous trading day, with FOB Singapore closing at $657.08-659.08/ton. The closing price of the European MTBE market increased by $2.25/ton compared to the previous trading day, and FOB ARA closed at $759.24-759.74/ton. The closing price of the MTBE market in the United States decreased by $1.98/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $708.89-709.24/ton (200.16-200.26 cents/gallon).
In the future, it is predicted that there is room for international oil prices to rise, and the expectation of a new round of retail price limits for refined oil products has been raised. In addition, during the Spring Festival travel rush, the number of people returning home for travel is increasing, and the gasoline market is expected to remain relatively strong. MTBE analysts from Business Society believe that the MTBE market may rise.
If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.
