Business Club: MTBE market prices fell this week (August 5-August 10)
According to data from business associations, MTBE’s price this weekend was 5483 yuan/ton, down 0.60% from the previous week’s price.
II. Market Analysis
Products: After the domestic MTBE market rose to its peak this week, the overall market entered the range of shocks to sort out the market. In addition, the price of international crude oil fell sharply, and the price of gasoline fell. This week, MTBE prices fell slightly.
Industry Chain: International oil prices fell sharply this week. The price of WTI crude oil was close to $50 per barrel. On August 9, the price of WTI crude oil was $52.54 per barrel, with a weekly decline of 5.61%. However, the weekly decline of gasoline price was 0.16%, which had little impact on MTBE market.
MTBE market: At present, most domestic MTBE refineries are always at a low inventory level, so the MTBE market price is at a high level in the year. From January 2019 to now, the MTBE price range is 5350-5550 yuan/ton. After the price of domestic refined oil was lowered at 24pm on August 6, the crude oil change rate continued to run negatively. Up to August 8, the latest crude oil change rate was -2.04%. The news is not good for the mindset of oil market operators. The confidence of MTBE market is insufficient and the enthusiasm of entering the market is reduced. With the decline of crude oil, the poor trend of gasoline market and the lower enthusiasm of oil regulators in purchasing raw materials, MTBE market prices have changed from rising to falling this week.
3. Future Market Forecast
Analysts of MTBE products of Business Society Energy Branch believe that the possibility of a substantial recovery in international oil prices next week is low, the overall domestic demand for gasoline is general, while MTBE prices rose to the year’s high, and MTBE market prices are expected to continue to pull back next week.