According to the Commodity Market Analysis System of Shengyi Society, from November 28th to December 5th, MTBE prices rose from 5425 yuan/ton to 5475 yuan/ton, with a price increase of 0.92% during the period, a month on month increase of 3.79%, and a year-on-year decrease of 16.09%. The domestic MTBE market is stable and consolidating. After entering December, there are some pending delivery orders for gasoline, and there is a high enthusiasm for purchasing gasoline raw materials. At the same time, there are also many new gasoline vehicle and ship orders, which provide positive support for the relevant gasoline raw material market, and the market remains firmly consolidated.
On the cost side, in terms of crude oil: International oil prices have fallen, and the main negative factors are: the tense atmosphere in the Middle East has eased again, the increase in US refined oil inventories has exceeded expectations, and the market is still concerned about weak demand prospects. As of December 4th, the Brent price was $72.31 per barrel.
From the perspective of demand and downstream gasoline terminal demand, gasoline transactions are still relatively active, and there are some orders waiting to be delivered, which provides some support. Short term MTBE demand is influenced by favorable factors.
Supply side: Narrow fluctuations and consolidation of resource supply side. Short term domestic MTBE supply is affected by bearish factors.
As of December 4th, the closing price of the Asian MTBE market has increased by $20.4/ton compared to the previous trading day, and FOB Singapore closed at $723.69-725.69/ton. The closing price of the European MTBE market increased by 0.25 US dollars/ton compared to the previous trading day, and FOB ARA closed at 825.99-826.49 US dollars/ton. The closing price of the MTBE market in the United States increased by $47.35/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $807.88-808.23/ton (228.11-228.21 cents/gallon).
According to the forecast of supply and demand game in the future, MTBE analysts from Shengyi Society believe that the domestic MTBE market will experience a narrow consolidation in the short term.
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