Crude oil continued to fall, bad market mentality, coupled with gasoline also entered the decline, demand is more depressed, Shandong merchants poor sales, prices continue to decline adjustment. According to SunSirs, as of July 19, the price of MTBE was 5,716 RMB/ ton, down 10.72% month on month and up 51.10% year on year.
Last week, the MTBE market continued to decline, with light turnover. Crude oil continued to decline, bad market mentality, coupled with the recent weak demand, MTBE local business sales pressure still exists.
In terms of external market, as of July 16, the closing price of Asian MTBE market was down $8/ ton compared with the previous trading day, while FOB Singapore closed at $730-732/ ton. The closing price of European MTBE market decreased $5.25/ ton compared with the previous trading day, and FOB ara closed at $827.5-828/ ton. The closing price of MTBE market in the United States increased by $1.17/ ton compared with the previous trading day, and FOB Gulf offshore price closed at $798.75-799.1/ton (225.00-225.10 cents / gal).
The recent downturn of crude oil and gasoline has led to weak demand for raw materials in the downstream. In addition, the price of other raw materials is still about 200-400 RMB/ ton lower than that of MTBE, so the sales pressure of MTBE merchants is still there. SunSirs MTBE analysts believe that in the short term, China domestic MTBE market will remain sluggish.
