SunSirs: The Isobutene Market Remained Stable This Week
May 10 2024 10:18:18 SunSirs (John)
Price trend
According to the monitoring of the commodity market analysis system of SunSirs, the isobutene market remained stable this week. As of May 9th, the mainstream price of isobutene (≥ 99, loose water) in China was 12,125 RMB/ton, which was unchanged from last week and increased by 100 RMB/ton or 4.04% compared to April.
Analysis review
Cost side:
The concentrated release of bearish news in the early May crude oil market has put pressure on the risk premium of crude oil. International crude oil had experienced a significant decline. As of May 9th, the mainstream price of MTBE was 7,187.50 RMB/ton, a decrease of 0.38% from May 1st and a decrease of 4.1% from April. In early May, the maintenance equipment started construction one after another, and the inventory on site gradually increased.
Demand side:
Downstream factories mainly purchase based on actual needs and adopt a relatively cautious attitude. Although the main downstream factories maintained a normal production rhythm, the operating rate of the terminal factories was relatively low, and the procurement enthusiasm was not high.
Market outlook
Based on the situation, the on-site inventory status of isobutene was still good, and the supply of goods was relatively abundant in the short term. However, due to the combined influence of multiple factors, cost support showed a weakening trend, which presented a dual bearish outlook, it is expected that the isobutene market will be dominated by weak consolidation in the short term.
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