SunSirs: China MTBE Market Fluctuated and Rose
August 22 2022 09:14:26 SunSirs (Selena)
China domestic MTBE market fluctuated and rose. According to the data of SunSirs, the price of MTBE remained at 7,160 RMB/ ton on August 12, and 7,470 RMB/ ton on August 19. The price increased by 4.33% in the cycle, and the price decreased by 3.11% month on month, with a year-on-year increase of 35.41%.
Last week, the MTBE market rose first and then fell, and the overall fluctuation was upward. At the beginning of the week, gasoline prices continued to rise, and the purchase enthusiasm of downstream and traders was high. In addition, some merchants were reluctant to sell, and the market continued to rise. However, with the exhaustion of favorable support, the market sales turned weak, and the quotations of manufacturers were adjusted back in a narrow range, ranging from 50 to 150 RMB/ ton. The market atmosphere was volatile.
For upstream products, methanol, the cost support was limited, the port was expected to accumulate, and the short-term methanol market might decline.
In terms of external market, as of the closing on August 18, the closing price of Asian MTBE market increased by US $24.43/t compared with the previous trading day, and FOB Singapore closed at US $1,064.34-1,066.34/t. The closing price of European MTBE market increased by US $31.50/t compared with the previous trading day, and FOB ara closed at US $1,222.24-1,222.74/t. The closing price of the US MTBE market increased by US $10.01/t compared with the previous trading day, and the FOB Gulf FOB price closed at US $1,218.17-1,218.53/t (343.15-343.25 cents / gallon).
The downstream demand weakens, and the purchasing enthusiasm of traders and downstream factories weakens. SunSirs MTBE analysts believe that China domestic MTBE market is mainly sorted out in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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