SunSirs: Narrow Fluctuation of China MTBE Market in June

　　The market of MTBE fluctuated in a narrow range, and the transaction turned light. According to SunSirs, as of July 5, the price of MTBE was 6,196 RMB/ ton, up 4.15% month on month and 58.21% year on year.

　　After the price rose to a high level, it encountered downstream conflict. In addition, the prices of other raw materials such as alkylation and mixed aromatics were 400-600 RMB/ ton lower than those of MTBE, which put some pressure on the MTBE market. With the end of the month approaching, and the traffic restrictions in various places this week, the demand was low, so the merchants considered shipping and sold in advance.

　　In terms of external market, as of July 2, the closing price of Asian MTBE market increased $7.5/ ton compared with the previous trading day, and FOB Singapore closed at $799.5-801.5/ ton. The closing price of European MTBE market increased by $7.75/ ton compared with the previous trading day, while FOB ara closed at $832.5-833/ ton. The closing price of MTBE market in the United States increased $11.43/ ton compared with the previous trading day, and FOB Gulf offshore price closed at $821.33-821.68/ ton (231.36-231.46 cents / gal).

　　Recently, with the start-up of some devices in the north, the supply has increased significantly. Both Minghao chemical and daze chemical have plans to start construction. If the construction starts on schedule, the supply of northern China will increase again. In addition, the price of other raw materials is 400-600 RMB/ ton lower than that of MTBE, so the pressure of MTBE sales still exists. SunSirs MTBE analysts believe that in the short term, the domestic MTBE market will still be downward consolidation in China.