ccording to SunSirs, the domestic MTBE market fluctuates in a narrow range. From June 1st to 8th, the price of MTBE increased from 7,300 RMB/ton to 7,325 RMB/ton, with a cycle price increase of 0.34%, a month on month decrease of 2.33%, and a year-on-year decrease of 13.95%.

In the first half of the week, the demand for gasoline shipping orders and other goods was supported by favorable conditions. MTBE manufacturers' quotations were firm, and low-priced resources were difficult to find. In the second half of the week, the favorable demand gradually digested. At the same time, after multiple MTBE devices began operating, spot supply gradually increased, and the MTBE market price narrowed down.

On the cost side, in terms of crude oil, international crude oil prices have rebounded and fluctuated. Affected by the favorable supply of Saudi Arabia's plan to deepen production cuts, the bullish sentiment in the market has diluted the bearish sentiment of rising US refined oil inventories and weak Chinese data. On June 8th, the benchmark price of WTI crude oil for the trading company was 71.74 US dollars per barrel, an increase of 3.28% compared to the beginning of this month (69.46 US dollars per barrel). The cost side is favorable for the domestic Petroleum industry chain market, while the MTBE cost side is favorable.

On the demand side, in terms of gasoline, the increase in summer demand has provided some support for oil prices. At the beginning of the week, gasoline shipping orders were well traded, forming support for the market. However, the demand side slowed down in the second half of the week. The demand side of MTBE is influenced by favorable factors.

As of the close on June 7th, the closing price of the Asian MTBE market has increased by $14.74/ton compared to the previous trading day, while FOB Singapore closed at $958.07-960.0/ton. The closing price of the European MTBE market increased by $34/ton compared to the previous trading day, while the FOB ARA closed at $1,040.99- $1,041.49/ton. The closing price of the US MTBE market decreased by $0.03/ton compared to the previous trading day, while the FOB Gulf price closed at $926.79-927.14/ton ($261.07-261.17/gallon).

In the future market forecast, most manufacturers will continue to operate normally, with abundant spot supply and relatively weak terminal demand. SunSirs MTBE analysts believe that there is still a downward expectation in the domestic MTBE market in the short term.