According to the monitoring of the Business News Agency, the domestic MTBE market is highly volatile. From March 1st to 30th, the price of MTBE increased from 7100 yuan/ton to 7200 yuan/ton, with a price increase of 1.41% during the cycle, with a maximum amplitude of 6.86%, and a year-on-year decrease of 2.37%.

At the beginning of this month, due to the overhaul of some production enterprises in Shandong, the supply volume was significantly reduced, while the demand for gasoline remained, with both supply and demand being positive. Merchants were strongly bullish, and the MTBE market price was gradually rising. In the first ten days of this month, the overhaul of some devices in Shandong Province, coupled with export orders from some factories, led to a significant reduction in spot supply, which boosted the effect of tight goods and rising prices. Merchants actively boosted prices, and the price increase of enterprises during the week was around 50-200 yuan/ton. In the middle of June, as prices rose to a high level, the enthusiasm for receiving goods from downstream decreased. In addition to the broad downward trend of crude oil, there was a strong pessimistic atmosphere in the market, and demand was increasingly reduced. MTBE prices followed the downward trend.

On the cost side, the international crude oil market in March fell first and then rose, but overall it still fell. As of March 29, international crude oil futures fell slightly. The settlement price of the main contract for US WTI crude oil futures was US $72.97 per barrel, a decrease of US $0.23 or 0.3%. Brent crude oil futures rose, with the main contract closing at $77.59 per barrel, a decrease of $0.55 or 0.7%. The domestic oil industry chain MTBE product market was affected by market fluctuations.

On the demand side, the international crude oil futures price fell first and then rose, and the atmosphere in the entire oil industry chain was weak. There is no positive holiday support in the near future. Gasoline demand has stabilized, while diesel terminal demand is recovering, and the overall recovery is less than expected. The MTBE demand side is temporarily negative.

In terms of external trading, as of March 29, the closing price of the Asian MTBE market was reduced by $5.50 per ton compared to the previous trading day, while FOB Singapore closed at $985.49-987.49 per ton. The closing price of the European MTBE market increased by $15.00 per ton compared to the previous trading day, while the FOB ARA closed at $1117.99-1118.49 per ton. The closing price of the US MTBE market decreased by 59.36 US dollars per ton compared to the previous trading day, while the FOB Gulf price closed at 1145.5-1145.86 US dollars per ton (322.68-322.78 US cents per gallon).

Region/ Country/ Closing Price/ Up and down

Asia/ FOB Singapore/ 985.49-987.49 USD/ton./- 5.50 USD/ton

Europe/ FOB ARA./ 1117.99-1118.49 USD/ton./15 USD/ton

United States/ FOB Bay/ 1145.5-1145.86 USD/ton./- 59.36 USD/ton

In the future, as prices fall to a low level and downstream demand increases moderately, coupled with limited support from the market’s spot supply, analysts at the business agency MTBE believe that the domestic MTBE market may stop falling back in the short term