According to the Commodity Market Analysis System of SunSirs, from March 24th to 28th, MTBE prices rose from 5,537 RMB/ton to 5,737 RMB/ton, with a price increase of 3.61% during the period, a month on month decrease of 2.34%, and a year-on-year decrease of 20.17%. The MTBE market is showing a trend of first suppression and then rebound, with some large manufacturers temporarily unable to export their products. Domestic sales have resumed, and the supply of resources has increased sharply. Manufacturers are offering wide discounts to increase production volume, causing MTBE prices to fluctuate and fall. After the price drops to a certain low, it attracts the enthusiasm of industry players to purchase. The transaction volume of gasoline ship orders has improved, and the MTBE market situation has rebounded accordingly.

On the cost side, in terms of crude oil: The rise in international oil prices is mainly due to market concerns about potential supply risks caused by the strengthening of US sanctions on Venezuela and Iran, as well as the continued instability of the Middle East situation. Combined with the decline in crude oil and refined oil inventories in the United States, it provides favorable support for oil prices. As of March 27th, the settlement price of the main Brent crude oil futures contract was $73.34 per barrel.

On the demand side, as the Qingming holiday approaches, the market stocking atmosphere is gradually rising, coupled with the recent strong trend of crude oil boosting the oil market, downstream businesses have increased their enthusiasm for entering the market for procurement. Short term MTBE demand is influenced by favorable factors.

Supply side: Dongying Shenchi will start construction around the 25th, with an increase in resource supply. Short term domestic MTBE supply is affected by bearish factors.

As of the close on March 27th, the closing price of the Asian MTBE market has increased by $1.12/ton compared to the previous trading day, with FOB Singapore closing at $730.24-732.24/ton. The closing price of the European MTBE market decreased by $1/ton compared to the previous trading day, and FOB ARA closed at $794.74-795.24/ton. The closing price of the MTBE market in the United States increased by $5.35/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $826.61-826.97/ton (233.40-233.50 cents/gallon).

There is a narrow expectation of an increase in MTBE resource supply in the future, and there are favorable factors stimulating demand. MTBE analysts from SunSirs believe that the domestic MTBE market is mainly characterized by consolidation and fluctuations.

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