According to the Commodity Market Analysis System of SunSirs, from April 21st to 25th, MTBE prices fell from 5,262 RMB/ton to 5,200 RMB/ton, with a price drop of 1.19% during the cycle, a month on month drop of 6.09%, and a year-on-year drop of 29.97%. The MTBE market continues to operate weakly, but the decline has slowed down. With prices continuously decreasing, manufacturers' losses have deepened, and their willingness to continue offering discounts has slowed down. At the same time, as the May Day holiday approaches, terminal operators are moderately replenishing inventory, and transactions have slightly warmed up, with a small decline.

On the cost side, in terms of crude oil: The international oil price has fallen, and the main negative factors are OPEC+considering further increasing production in June, and Kazakhstan stating that it may be difficult to strictly comply with the compensatory production reduction plan. The easing of the geopolitical situation has put pressure on the oil market. As of April 24th, the settlement price of the main Brent crude oil futures contract was $66.55 per barrel.

On the demand side, in terms of gasoline terminal demand, as the May Day holiday approaches, middle and downstream businesses have good expectations for consumption during the holiday period. There is still a wave of replenishment operations, and there are still some shipping orders to be delivered at the end of the month, which provides some positive support for the demand side. The MTBE demand side is influenced by favorable factors.

Supply side: Shandong Lushanfa and Huizhou Yuxin plan to resume installation by the end of April, and it is expected that resource supply will increase slightly. Short term domestic MTBE supply is affected by bearish factors.

As of the close on April 24th, the Asian MTBE market closed at $11.51/ton lower than the previous trading day, with FOB Singapore closing at $673.96-675.96/ton. The closing price of the European MTBE market remained unchanged from the previous trading day, with FOB ARA closing at $795.49-795.99 per ton. The closing price of the MTBE market in the United States increased by $7.79 per ton compared to the previous trading day, and the FOB Gulf offshore price closed at $731.66-732.01 per ton (206.59-206.69 cents per gallon).

As the May Day holiday approaches, people's expectations for travel and leisure activities are increasing, and gasoline market transactions are gradually improving, which is expected to provide some support for the MTBE market. But currently, the supply of MTBE resources is still relatively high. Let's take a look at the supply and demand. MTBE analysts from SunSirs believe that the domestic MTBE market is mainly characterized by narrow fluctuations.

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