SunSirs: MTBE External Market Prices Have Been Comprehensively Lowered

On November 18th, the closing price of MTBE in the overseas market decreased: the closing price of MTBE in Asia decreased by $5.85/ton compared to the previous trading day, and FOB Singapore closed at $655.62-657.62/ton. The closing price of the European MTBE market decreased by $27/ton compared to the previous trading day, and FOB ARA closed at $823.99-824.49/ton. The closing price of the MTBE market in the United States decreased by $23.8/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $791.94-792.29/ton (223.61-223.71 cents/gallon).

The article reports that on November 18th, the closing prices of MTBE in the overseas market were all lowered in Asia, Europe, and the United States. The Asian FOB Singapore fell by $5.85/ton to $655.62-657.62/ton, the European FOB ARA fell by $27/ton to $823.99-824.49/ton, and the US FOB Gulf offshore price fell by $23.8/ton to $791.94-792.29/ton. This indicates a significant downward pressure on spot prices due to oversupply or weak demand in the global MTBE market. The decline in Asia is relatively small, but the decline in Europe and the United States is large and covers major markets. The overall impact is generally significant bearish, which is expected to put pressure on domestic MTBE spot prices and may reduce the purchasing willingness of traders and downstream users.

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