SunSirs: China MTBE Market Rose and Fell Last Week

The domestic MTBE market rose first and then fell. According to the data of SunSirs, the MTBE price remained at 7,220 RMB/ton on September 16 and 7,210 RMB/ton on September 23, with a 0.14% drop in the cycle and a maximum amplitude of 1.90%. The price rose 1.55% month on month and 22.70% year on year.

In the first half of the week, boosted by the rising demand for downstream replenishment and the rising prices of crude oil and gasoline, MTBE merchants followed suit. However, with the sharp drop of crude oil again, the wait-and-see atmosphere in the market has risen again, and some traders are not optimistic about the future market. They began to sell in advance, resulting in blocked factory sales. From the second half of the week, the MTBE market entered a downward channel.

In terms of upstream products and methanol, the business community monitored that the price of domestic methanol in East China ports rose by a narrow margin, 2,770 RMB/ton at the beginning of last week, and 2,804 RMB/ton by the morning of last Friday, up 1.23% in the cycle. At present, the domestic methanol market is volatile.

By the end of September 22, the closing price of the Asian MTBE market had dropped by 24.50 US dollars/ton compared with the previous trading day, and FOB Singapore closed at 859.99-861.99 US dollars/ton. The closing price of European MTBE market rose by 18.50 dollars/ton compared with the previous trading day, and FOB ARA closed at 939.49-939.99 dollars/ton. The closing price of the US MTBE market rose by 10.36 US dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 1020.15-1020.51 US dollars/ton (287.37-287.47 US cents/gallon).

Near the National Day, some downstream businesses still have a short-term demand for replenishment, while raw materials have a positive impact. SunSirs MTBE analysts believe that China domestic MTBE market will stop falling and rise in the short term.

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