According to the Commodity Market Analysis System of SunSirs, from February 14th to 21st, MTBE prices rose from 5,775 RMB/ton to 5,900 RMB/ton, with a price increase of 2.16% during the cycle, a month on month increase of 2.83%, and a year-on-year decrease of 9.75%. The domestic MTBE market has shown some upward trend, as some large manufacturers export to ports and domestic resource supply is relatively tight. At the same time, transactions have improved, and end users are moderately purchasing. Manufacturers' shipments have also improved, actively pushing up offers.

On the cost side, in terms of crude oil: The rise in international oil prices is mainly due to market concerns about local supply tightening in the short term, and the difficulty of significantly increasing US crude oil production. As of February 20th, the settlement price of the main Brent crude oil futures contract was $75.02 per barrel.

On the demand side, international crude oil futures fluctuated upwards, while the gasoline and diesel markets fluctuated. Affected by terminal demand, the pace of gas station merchants entering the market for procurement has slowed down, and the gasoline market is gradually becoming sluggish. With the increase in diesel ordering operations by middle and downstream merchants, the diesel market is relatively strong, and many refineries in the region hold the intention of raising prices. Short term MTBE demand is influenced by bearish factors.

Supply side: Haite Weiye and Maoming Shihua have plans to start construction, and there may be expectations of increased resource supply. Short term domestic MTBE supply is affected by bearish factors.

As of the close on February 20th, the closing price of the Asian MTBE market has decreased by $3.88/ton compared to the previous trading day, with FOB Singapore closing at $763.81-765.81/ton. The closing price of the European MTBE market decreased by 0.5 US dollars/ton compared to the previous trading day, and FOB ARA closed at 902.74-903.24 US dollars/ton. The closing price of the MTBE market in the United States remained unchanged from the previous trading day, with FOB Gulf offshore prices closing at $803.41-803.77 per ton (226.85-226.95 cents per gallon).

There is an expectation of an increase in resource supply in the future forecast. In terms of demand, the overall performance is average, and there may still be room for a decline in gasoline prices. The MTBE analyst from SunSirs believes that the domestic MTBE market may weaken narrowly.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.