According to the monitoring of SunSirs, the domestic MTBE market declined significantly. From December 16 to 23, the MTBE price fell from 6,837 RMB/ton to 6,150 RMB/ton, a 10.05% drop in the cycle, a 13.62% month on month drop and a 7.89% year-on-year increase. The main reason for the price decline is lower downstream demand. Affected by public health events in various regions, the number of people traveling is reduced, and the consumption of gasoline is reduced. In addition, some logistics and transportation are limited. The overall market attention is low, and the sales of merchants are blocked. Therefore, they have no choice but to adjust step by step. The price once fell to the low level at the end of January this year. In addition to the low demand, as some manufacturers such as Debao Road, Chengtai New Energy and Xinxin Park have started construction, the supply has increased, which also puts some pressure on the market.
On the cost side, on December 22, international crude oil futures closed lower. The settlement price of the main contract of US WTI crude oil futures was 77.49 dollars/barrel, down 0.80 dollars or 1.02%. The settlement price of the main contract of Brent crude oil futures was 81.67 dollars/barrel, down 0.91 dollars or 1.10%. The risk of economic recession is still there. The market is worried about the continued interest rate increase of the Federal Reserve, which has overshadowed the impact of the decline of crude oil inventory caused by the winter storm in the United States and the supplementary reserve plan. The domestic oil industry chain MTBE product market has declined due to the shock of the affected market.
On the demand side, due to the impact of public health events in various regions, logistics and transportation are limited, downstream demand is also low, and the overall market demand is weak. Near the end of the month, the market demand is difficult to increase significantly. As people travel less, gasoline sales turn downward, and its own sales are sluggish, the demand for MTBE as an additive has obviously decreased.
In terms of enterprises, the MTBE quotation of Shandong Chengtai New Materials decreased by 250 RMB/ton to 6,150 RMB/ton. Shi Dashenghua lowered MTBE by 250 RMB/ton, and offered 6,150 RMB/ton. Shandong Shenchi Chemical Co., Ltd. lowered MTBE by 100 RMB/ton, and offered 6150 RMB/ton. Lihua Yilijin Petrochemical lowered MTBE by 150 yuan, and offered 6,150 RMB/ton. Dongming Qianhai Chemical lowered its MTBE quotation by 250 RMB/ton to 6,150 RMB/ton.
In terms of external market, as of the closing of December 22, the closing price of the Asian MTBE market rose by 22.04 dollars/ton compared with the previous trading day, and FOB Singapore closed at 846.43-848.43 dollars/ton. The closing price of the European MTBE market rose by 30.00 dollars/ton compared with the previous trading day, and FOB ARA closed at 966.99-967.49 dollars/ton. The closing price of the MTBE market in the United States decreased by 2.48 dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 893.99-894.34 dollars/ton (251.83-251.93 cents/gallon).
It is predicted that in the near future, due to the low demand around the country, merchants' sales are blocked and prices are falling step by step. At the same time, near the end of the month, the market demand is still difficult to improve significantly. SunSirs MTBE analysts believe that China domestic MTBE market is sluggish in the short term.
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