The domestic MTBE market is mainly stagnant and consolidating. From August 5th to 9th, MTBE prices rose from 6,687 RMB/ton to 6,737 RMB/ton, with a price increase of 0.75% during the cycle, a month on month increase of 2.08%, and a year-on-year decrease of 12.64%. The overall fluctuation space of the domestic MTBE market is not large, and the demand for gasoline terminals is weak. Downstream purchases are made according to demand, and manufacturers' shipments are flat.

On the cost side, in terms of crude oil: the international oil price has fallen, and the main negative factors are: the market's pessimistic sentiment towards demand prospects is still fermenting, global stock markets are declining, and weak US economic data has raised concerns in the market about the possibility of a recession in the US economy. As of August 8th, the settlement price of the main Brent crude oil futures contract was $79.16 per barrel.

On the demand side, in terms of downstream gasoline, international crude oil futures have fluctuated downward, while the refined oil market continues to be weak. Although the rebound of crude oil near the weekend has brought positive news to the oil market, refineries are particularly cautious in pushing up prices due to insufficient fundamental demand, and intermediaries have weak intentions to lock in prices for large orders. Short term MTBE demand is influenced by bearish factors.

Supply side: Shengtong Chemical Plant has started construction, and Dongming Qianhai Plant has seen an increase in operating load and output. Short term domestic MTBE supply is affected by bearish factors.

As of the close on August 7th, the closing price of the Asian MTBE market has decreased by $4.5/ton compared to the previous trading day, with FOB Singapore closing at $738.99-740.99/ton. The closing price of the European MTBE market increased by $1.25/ton compared to the previous trading day, and FOB ARA closed at $939.49-939.99/ton. The closing price of the MTBE market in the United States increased by $11.04 per ton compared to the previous trading day, and the FOB Gulf offshore price closed at $994.63-994.98 per ton (280.18-280.28 cents per gallon).

Short term MTBE supply is expected to increase, and downstream gasoline may improve due to the summer vacation. MTBE analysts from SunSirs believe that the domestic MTBE market will mainly consolidate in a narrow range in the short term.

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