According to the Commodity Market Analysis System of SunSirs, from March 7th to 14th, MTBE prices fell from 5,875 RMB/ton to 5,787 RMB/ton, with a price drop of 1.49% during the period, a month on month increase of 0.22%, and a year-on-year decrease of 17.17%. The overall trend of MTBE market is weak, especially in the northern region, where the poor performance of crude oil and sluggish demand for gasoline have dragged down the market and presented a downward trend. The enthusiasm for downstream buying is average, and overall transactions are normal.

In terms of cost and crude oil, the rise in international oil prices is mainly due to the possibility of the United States strengthening sanctions against Iran, the weakening of the US dollar exchange rate, and the decrease in US gasoline inventories. As of March 13th, the settlement price of the main Brent crude oil futures contract was $69.88 per barrel.

On the demand side, international crude oil futures have fluctuated upwards, and the decline in refined oil prices has slowed down. Refineries are gradually showing interest in raising prices, but insufficient terminal demand has led to slow inventory digestion by social units. End users and traders are cautious in ordering operations, and the overall market buying and selling atmosphere is light. Short term MTBE demand is influenced by bearish factors.

Supply side: Shandong Chengtai and Lushanfa have successively stopped work for maintenance, resulting in a decrease in equipment operating rates and a narrow reduction in resource supply. The short-term domestic MTBE supply is affected by favorable factors.

As of the close on March 13th, the closing price of the Asian MTBE market has increased by $10.46/ton compared to the previous trading day, and FOB Singapore closed at $706.64-708.64/ton. The closing price of the European MTBE market decreased by $6.25/ton compared to the previous trading day, and FOB ARA closed at $763.74-764.24/ton. The closing price of the MTBE market in the United States decreased by $6.02/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $712.61-712.96/ton (201.21-201.31 cents/gallon).

In the future, it is predicted that a new round of retail price limits will be lowered, and the pace of gas station merchants entering the market for procurement will slow down. Operators will maintain on-demand purchase of MTBE. Overall, the demand for gasoline terminals is weak, and although the supply of resources has decreased, the inventory level of manufacturers is relatively high due to the continued flat shipments. MTBE analysts from SunSirs believe that the domestic MTBE market is mainly consolidating due to weak market conditions.

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