Last week, the international oil price rose first and then fell, which was difficult to give clear guidance to the market. In addition, the gasoline market continued to decline slightly, its own sales were poor, and the demand for MTBE was flat. Crude oil rose slightly on Friday, which was good for the market mentality. In addition, there was not much spot supply, and the main domestic MTBE manufacturers raised the ex-factory quotation of 50 RMB/ ton.
According to the data of SunSirs, from August 27 to September 3, the price of MTBE increased from 5,700 RMB/ ton to 5,750 RMB/ ton, the price increased by 0.88% during the week, and the price increased by 1.77 month on month, with a year-on-year increase of 58.26%.
Recently, MTBE market continues the consolidation trend with limited fluctuation. With the arrival of the school season, gasoline can be consumed appropriately, but due to the high level of inventory, the short-term consumption capacity is limited. The gasoline market is still difficult to improve in the short term, and the demand for MTBE remains mainly on demand.
In terms of external trading, as of the closing on September 2, the closing price of Asian MTBE market was reduced by $11/ ton compared with the previous trading day, and FOB Singapore closed at $706-708/ ton. The closing price of European MTBE market increased by $23.50/ ton compared with the previous trading day, and FOB ara closed at $810.25-810.75/ ton. The closing price of US MTBE market increased by $18.67/ ton compared with the previous trading day, and FOB Gulf FOB closed at $782.7-783.06/ ton (220.48-220.58 cents/ gallon).
The trend of crude oil is unstable, the market remains on the sidelines, some factories in the north have resumed operation one after another, and the spot supply has gradually increased, but the current demand is general. SunSirs MTBE analysts believe that China domestic MTBE market may be mainly sorted out in the short term.
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