The contradiction between supply and demand is prominent. Although the crude oil price fluctuated at a high level and rose slightly over the weekend, it is still difficult to support the MTBE market, and the MTBE market price fell significantly for several consecutive days. According to the data of SunSirs, as of July 9, the price of MTBE was 5,946 RMB/ ton, with a month on month decrease of 0.78% and a year-on-year increase of 55.13%.

MTBE market continued to decline, with a decline of 40-100 RMB/ ton. Crude oil rose slightly, but it is difficult to give market support. In the near future, the contradiction between supply and demand still exists, and the sales pressure of merchants is increasing, especially in the northern region. Although the profits are sold one after another, the transaction has not improved significantly, and the merchants continue to adjust.

In terms of external market, as of July 8, the closing price of Asian MTBE market was reduced by $30/ ton compared with the previous trading day, while FOB Singapore closed at $772-774/ ton. The closing price of MTBE market in Europe decreased by $33/ ton compared with the previous trading day, and FOB ara closed at $790.5-791/ ton. The closing price of MTBE market in the United States was down by $7.88/ ton compared with the previous trading day, and FOB Gulf offshore price closed at $788.03-788.38/ ton (221.98-222.08 cents / gal).

In the near future, crude oil stopped falling and went up, which gave some support to the market. In addition, the recent decline was slightly larger, and low prices attracted a small amount of purchase intention of some businesses. SunSirs MTBE analysts believe that China domestic MTBE market will still be mainly in a narrow range in the short term.

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