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SunSirs: Strong Rebound in China MTBE Market

November 07 2022 09:36:31     SunSirs (Selena)

China domestic MTBE market fell first and then rose. Strong rebound. According to the data of SunSirs, the MTBE price remained at 6,880 RMB/ ton on October 31 and 7,200 RMB/ ton on November 4, with a 4.65% increase in the cycle, 0.69% month on month decrease and 16.69% year-on-year increase.

As the MTBE market price fell to a low level in the early stage, downstream businesses began to replenish at a low level. At the same time, export negotiations increased, foreign demand increased, and the MTBE market atmosphere became warmer. In addition to the continuous rise of crude oil and gasoline, many enterprises raised the ex factory quotation to 7,200 RMB/ ton at the weekend

In terms of upstream products and methanol, SunSirs monitored the price fluctuation of domestic methanol in East China ports, which was 2,862 RMB/ ton at the beginning of the week and 2,836 RMB/ ton as of 10:00 a.m. on November 4, with a price increase of 1.65% during the cycle. At present, the domestic methanol market is weak.

For enterprises, the MTBE quotation of Shandong Chengtai New Materials was raised by 100 RMB/ ton to 7,200 RMB/ ton. Shi Dashenghua raised the MTBE by 100 RMB/ ton, and offered 7,200 RMB/ ton. Shandong Shenchi Chemical Co., Ltd. raised MTBE by 100 RMB/ ton, and offered 7,200 RMB/ ton. Lihua Yilijin Petrochemical raised MTBE by 100 RMB/ ton, and offered 7,200 RMB/ ton. The MTBE quotation of Dongming Qianhai Chemical increased by 200 RMB/ ton to 7,200 RMB/ ton.

By the end of November 3, the closing price of the Asian MTBE market had risen by 19 dollars/ton compared with the previous trading day, and FOB Singapore closed at 990.99-992.99 dollars/ton. The closing price of the European MTBE market decreased by 5.25 dollars/ton compared with the previous trading day, and FOB ARA closed at 1,094.74-1,095.24 dollars/ton. The closing price of the MTBE market in the United States decreased by 1.17 dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 1,240.15-1,240.5 dollars/ton (349.34-349.44 cents/gallon).

At present, most traders have strong interest in inflation, but as the price reaches a high level, the willingness of gasoline traders to purchase has weakened. SunSirs MTBE analysts believe that the domestic MTBE market may be consolidated in the short term.

 

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