The domestic MTBE market continued to decline slightly, with a decline of about 30-50 RMB/ ton. Crude oil stopped falling and rose sharply, which gave some psychological support to the market. However, due to the weak downstream demand in the near future and the abundant supply of goods in the near future, the sales pressure of merchants still remains. According to SunSirs data, as of May 26, the price of MTBE was 5880 RMB/ ton, down 2.70% month on month and up 64.09% year on year.
MTBE market is stable, and the central and northern regions continue to decline, with general turnover. Crude oil continued to rise, but near the end of the month, businesses are willing to ship. Some of the middle and lower reaches of the country are replenished on bargain hunting, the refineries are better in shipment, and the gasoline and diesel are beyond the balance of production and sales; and yesterday's crude oil closed up sharply, boosting the mentality of the middle and lower reaches of the market. The gasoline price of Shandong independent refineries rose by 20-30 RMB/ ton.
In terms of external market, as of May 25, the closing price of Asian MTBE market increased by US $0.5/t compared with the previous trading day, and FOB Singapore closed at US $728-730 / T. The closing price of European MTBE market increased by US $1 / T compared with the previous trading day, and FOB ara closed at US $740-740.5/t. The closing price of MTBE market in the United States decreased by US $0.15/ton compared with the previous trading day, and FOB Gulf offshore price closed at US $794.06-794.42/ton (223.68-223.78 cents / gallon).
In the near future, there are still imported goods from Hong Kong, and the market supply is relatively abundant. However, the gasoline demand is difficult to improve greatly, and the contradiction between supply and demand still exists. MTBE analysts of SunSirs believe that the domestic MTBE market will still decline slightly in the short term.
