According to the monitoring of SunSirs, the domestic MTBE market fluctuated and fell. In the first half of the month, it was still able to maintain its consolidation, and the price fell significantly in the second half. From December 1 to 29, the MTBE price fell from 6,700 RMB/ton to 6,087 RMB/ton, a 9.14% drop in the cycle and a 5.61% year-on-year increase.
At the beginning of the month, the crude oil continued to fall deeply, and the gasoline market also went down step by step. The market was pessimistic, and downstream businesses had low purchasing intentions. In the first ten days of this month, the domestic MTBE market was in shock and consolidation. Recently, the trend of crude oil was unstable, and there was still downward pressure, which had a negative impact on bulk commodities. In addition, the recent trend of gasoline is difficult to improve, and the downstream demand for raw material MTBE is limited. In the middle of this month, as the crude oil price rose again, the willingness of downstream procurement increased. In addition, due to the maintenance of some factories, the market supply was limited, supporting businesses' willingness to keep up. The main reason for the price drop in late April was 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.
In terms of cost, on December 29, the benchmark price of WTI crude oil of SunSirs was 79.53 dollars/ton, down -1.27% compared with December 1 (80.55 dollars/ton). Since December, oil prices have continued to fall, recording a decline in six trading days. WTI and Brent crude oil both fell by about 10 dollars/ton. The results of the OPEC meeting of oil producing countries were released at the beginning of this month, which failed to further reduce production; As well as the EU's oil price limit policy for Russian seaborne oil has been implemented, but in the short term, it is virtually non-existent. The oil price fell to the annual low against the background of demand depression at the far end. It has completely returned to the level before the Russian Ukrainian conflict. The domestic oil industry chain MTBE product market was affected by the market shock and fell.
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.
For enterprises, Shandong Chengtai New Material MTBE quoted 6,050 RMB/ton. The MTBE of Shi Dashenghua is stable, and the quotation is 6,050 RMB/ton. The MTBE of Shandong Shenchi Chemical Co., Ltd. is stable, and the quotation is 6,050 RMB/ton. Lihua Yilijin Petrochemical increased MTBE by 50 RMB/ton, and offered 6,050 RMB/ton. The MTBE quotation of Dongming Qianhai Chemical increased by 100 RMB/ton to 6,200 RMB/ton.
In terms of external market, as of the closing of December 28, the closing price of the Asian MTBE market had risen by 0.50 dollars/ton compared with the previous trading day, and FOB Singapore closed at 880.49-882.49 dollars/ton. The closing price of European MTBE market rose by 35 dollars/ton compared with the previous trading day, and FOB ARA closed at 1,048.99-1,049.49 dollars/ton. The closing price of the US MTBE market rose by 1.35 dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 937.76-938.11 dollars/ton (264.16-264.26 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. MTBE analysts from the business agency believe that the domestic MTBE market is sluggish in the short term.
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