SunSirs: China MTBE Market Declined in a Narrow Range

https://www.chemnet.com   Oct 18,2022 SunSirs

China domestic MTBE market declined by a narrow margin. According to the data of SunSirs, the MTBE price remained at 7,390 RMB/ ton on October 8 and 7,210 RMB/ ton on October 14, with a 2.44% decline in the cycle, 1.23% month on month decline and 5.63% year-on-year increase.

The downward channel of crude oil was opened again, the pessimistic atmosphere of the market rose again, the downstream demand gradually weakened, and with some inventories accumulated during the festival, businesses were willing to destock, and the MTBE market price once again entered the downward adjustment.

In terms of upstream products and methanol, the business community monitored that the price of domestic methanol in East China ports dropped significantly, 3,246 RMB/ ton at the beginning of the week, 2,880 RMB/ ton by the morning of Friday (October 14), with a decline of 11.29% in the cycle. At present, the domestic methanol market is in shock.

For enterprises, Shandong Chengtai New Material MTBE quoted 7,200 RMB/ ton. Shi Dashenghua MTBE quoted 7,200 RMB/ ton. Shandong Shenchi Chemical Co., Ltd. MTBE quoted 7,200 RMB/ ton. Lihua Yilijin Petrochemical MTBE quoted 7,200 RMB/ ton. Dongming Qianhai Chemical's MTBE quotation is 7,250 RMB/ ton.

By the end of October 13, the closing price of the Asian MTBE market had dropped by 20.76 US dollars/ton compared with the previous trading day, and FOB Singapore closed at 879.73-881.73 US dollars/ton. The closing price of the European MTBE market rose by 23.75 dollars/ton compared with the previous trading day, and FOB ARA closed at 1,008.49-1,008.99 dollars/ton. The closing price of MTBE market in the United States rose by 37.99 dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 1,203.44-1,203.80 dollars/ton (339.00-339.10 cents/gallon).

With some export factories turning to domestic sales and individual factories resuming operation, the market supply has increased. At the same time, the demand for gasoline is weak, and the contradiction between supply and demand in the market still exists. And the trend of crude oil is still unstable in the near future. SunSirs MTBE analysts believe that in the short term, China domestic MTBE market is mainly in shock and consolidation.

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