SunSirs: China MTBE Price Rose to a “New High” in the Year

　　According to the data of SunSirs, the price of MTBE rose from 6,320 RMB/ ton to 6,814 RMB/ ton from October 8 to 15, with a price increase of 7.82% during the week, a price increase of 11.52% month on month and a year-on-year increase of 89.63%.

　　Last week, the market price of MTBE rose to a new high in the year, and the ex-factory quotation of enterprises increased by 800-900 RMB/ ton. The rise slowed down at the weekend, mainly finishing. Crude oil prices continued to rise, once rising to a high above $83/ barrel, providing psychological support for commodities. Gasoline prices rose. Supported by the continuous rise of crude oil and the high level of diesel, the price of gasoline rose sharply, and the MTBE market rose sharply.

　　The price of C4 raw material increased 700-800 RMB/ ton, which supported the MTBE market. The price of raw methanol is also rising step by step, with an increase of about 200-400 RMB/ ton.

　　In terms of external trading, as of the closing on October 14, the closing price of Asian MTBE market increased by $20 / ton compared with the previous trading day, and FOB Singapore closed at $852-854 / ton. The closing price of European MTBE market increased by $6/ ton compared with the previous trading day, and FOB ara closed at $ 885.75-886.25/ ton. The closing price of US MTBE market increased by $10.47/ ton compared with the previous trading day, and FOB Gulf FOB closed at $857.89-858.25/ ton (241.66-241.76 cents / gallon).

　　Recently, the MTBE market has been supported by the high level of crude oil, the continuous rise of raw material C4, methanol and isobutane, and the price has risen to a new high in the year. However, as the price rose to a high level, the downstream receiving became more cautious, and the raw materials began to show a downward trend. In addition, the trend of crude oil was unstable, and the market pessimism returned. SunSirs MTBE analysts believe that in the short term, China domestic MTBE market is dominated by high-level consolidation.