This week, the domestic MTBE market price fell first and then rose, with an overall decline. Some enterprises adjusted their ex factory quotation for many times, at about 100-300 yuan/ton. At the beginning of the week, crude oil continued to fall deeply. In addition, the gasoline market also declined step by step. The market was pessimistic, and downstream businesses had low purchasing intentions. As the price gradually fell to a low level, and the crude oil rebounded before the weekend, the downstream replenished on bargain, and the market sales gradually improved, some regions took the opportunity to slightly increase, but the overall situation was still lower than last week.
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According to the monitoring data of the business community, the MTBE price remained at 7070 yuan/ton on November 25 and 6850 yuan/ton on December 2. The price fell by 3.11% during the cycle, 0.15% month on month and 8.04% year on year.
In terms of upstream products and methanol, the business community monitored that the price of domestic methanol in East China ports was weak and lower, which was 2811 yuan/ton at the beginning of the week, and 2670 yuan/ton as of 10:00 a.m. on December 2, with a 5.04% drop in the price during the cycle. At present, the domestic methanol market is mainly consolidated.
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In terms of external market, as of the closing on December 1, the closing price of the Asian MTBE market had risen by 16.50 US dollars/ton compared with the previous trading day, and FOB Singapore closed at 918.49-920.49 US dollars/ton. The closing price of the European MTBE market rose by 9.00 dollars/ton compared with the previous trading day, and FOB ARA closed at 1068.49-1068.99 dollars/ton. The closing price of the US MTBE market rose by 11.54 US dollars/ton compared with the previous trading day, and the FOB Gulf price closed at 1018.84-1019.20 US dollars/ton (287.00-287.10 US cents/gallon).
Region./Country./Closing price./Up and down
Asia./FOB Singapore./918.49-920.49 USD/ton./16.5 USD/ton
Europe./FOB ARA./1068.49-1068.99 USD/ton./9 USD/ton
US./FOB Gulf./1018.84-1019.20 US dollars/ton./11.54 US dollars/ton
As the price fell to a low level, the willingness of the downstream to replenish on bargain hunting increased, and the desire of the merchants to be bullish grew. MTBE analysts from the business agency believe that the domestic MTBE market may still rise in the short term.
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