The increase in commercial crude oil inventories in the United States, coupled with the severity of the epidemic in some countries, led to a sharp drop in international oil prices. In addition to a few days of low downstream demand, increased sales pressure, but open the down window. According to the data of the SunSirs, as of May 20, the price of MTBE was 5956 RMB/ton, the price fell 2.39% from the previous month and rose 65.46% year-on-year.
MTBE market today fell 50-150 RMB/ton or so. Crude oil stops rising and falling, bearish market mentality, coupled with the general gasoline market sales, the demand for raw materials is flat. Although the main refinery in Shandong area is overhauled, the demand in the area is general, and the market is not easy to rise or fall. In the southern market, the supply of imported goods has been abundant, but the demand is flat and the shipment is slow.
On the outside, as of May 20, US FOB Gulf closed at $788.63-788.99 / ton, down $20.91 / ton, Europe FOB Ara closed at $720-720.5 / ton, down $24 / ton, Asia FOB Singapore closed at $725-727 / ton, We reduced it by $6 per ton.
Recent flat demand situation is difficult to change, the market will continue to consolidate in the transition. SunSirs MTBE analysts believe that in the short term domestic MTBE market conditions narrow collation.
