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SunSirs: Narrow Fluctuation of China MTBE Market
November 21 2022 09:40:02SunSirs(Selena)

The international crude oil price rises and falls frequently, while the MTBE market rises slightly, with a narrow range of shocks in general. The ex factory quotation of some enterprises has been adjusted several times, with a small rise and fall range of about 50-100 RMB/ ton. With the rise of MTBE price to a high level, the cost of downstream gasoline merchants has greatly increased, and they are losing interest in raw material procurement, and the sales of MTBE merchants have declined.

According to the monitoring data of SunSirs, the MTBE price remained at 7,260 RMB/ ton on November 11 and 7,290 RMB/ ton on November 18, with a price increase of 0.41%, 3.26% month on month and 11.98% year on year.

In terms of upstream products and methanol, SunSirs monitored that the price of domestic methanol in East China ports fluctuated slightly, 2,777 RMB/ ton at the beginning of the week, 2,800 RMB/ ton as of 10:00 a.m. on November 18, with a price increase of 0.81% during the period. At present, the domestic methanol market has fluctuated slightly.

In terms of enterprises, Shandong Chengtai New Materials lowered MTBE by 50 RMB/ ton, and offered 7,300 RMB/ ton. Shi Dashenghua MTBE quoted 7,250 RMB/ ton. Shandong Shenchi Chemical Co., Ltd. MTBE quotation is 7,300 RMB/ ton. Lihua Yilijin Petrochemical MTBE quotation is 7,300 RMB/ ton. Dongming Qianhai Chemical lowered its MTBE quotation by 50 RMB/ ton to 7,300 RMB/ ton.

In terms of external market, as of the closing on November 17, the closing price of the Asian MTBE market had dropped by 6.00 dollars/ton compared with the previous trading day, and FOB Singapore closed at 985.99-987.99 dollars/ton. The closing price of the European MTBE market decreased by 12.50 dollars/ton compared with the previous trading day, and FOB ARA closed at 1,088.49-1,088.99 dollars/ton. The closing price of MTBE market in the United States decreased by 32.41 dollars/ton compared with the previous trading day, and FOB Gulf closed at 1,138.3-1,138.65 dollars/ton (320.65-320.75 cents/gallon).

The supply is not large, which gives the market some support. At present, the downstream receiving capacity is limited. SunSirs MTBE analysts believe that China domestic MTBE market may still rise in the short term.

 

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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