From October 1st to 10th, MTBE prices rose from 8012 yuan/ton to 8350 yuan/ton, with a price increase of 4.21% during the period, a month on month increase of 7.04%, and a year-on-year increase of 62.93%.
The domestic MTBE market has fluctuated and risen. During the National Day holiday, the domestic MTBE market showed a fluctuating upward trend, with many manufacturers concentrated on delivering for export. The domestic spot circulation was in a tight position, and coupled with the continued signing of export orders, raw material prices remained high. After the holiday, the trend in the crude oil market was good, and coupled with the continued high cost of raw materials, the transaction center further shifted upward.
On the cost side, in terms of crude oil: the international oil price has fallen, and the main negative factors are the maintenance of communication in the US Iran negotiation channel and the expectation of easing geopolitical tensions. The possibility of interest rate hikes by the Federal Reserve has added pressure to the oil market.
On the demand side and downstream side, international crude oil futures first rose and then fell, while the refined oil market weakened and declined. During the National Day holiday, restrictions on the movement of hazardous chemical oil tankers were imposed on highways in various regions, leading to transportation difficulties. In addition, during the holiday period, many downstream businesses were digesting their previous inventory, resulting in poor overall shipment performance for refineries. The low production and sales figures for several consecutive days led to overall inventory growth, and oil prices in the region were under pressure, resulting in a sluggish market buying and selling atmosphere. The MTBE demand side is affected by bearish factors.
Supply side: Expected supply may increase. The supply side of MTBE is affected by negative factors.
As of the close on October 9th, the closing price of the Asian MTBE market has decreased by $43.29/ton compared to the previous trading day, with FOB Singapore closing at $1168.99-1170.99/ton. The closing price of the European MTBE market increased by $3/ton compared to the previous trading day, and FOB ARA closed at $1761.49-1761.99/ton. The closing price of the MTBE market in the United States increased by $22.03/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $1611.80-1612.15/ton (455.10-455.20 cents/gallon).
Market forecast: Some large manufacturers still focus on delivery and export, with limited domestic sales and high raw material prices, resulting in huge cost pressures. MTBE manufacturers have a strong intention to raise prices, and analysts believe that the MTBE market is mainly consolidating at a high level.
| http://www.sulfamic-acid.com |