WTI and Brent crude oil prices both rose above the $70 mark, which is good for the market mentality. Near the Dragon Boat Festival holiday, the downstream gasoline merchants prepare the goods in advance. According to SunSirs data, as of June 11, the price of MTBE was 6150 RMB/ton, up 3.65% month on month and 53.11% year on year.
MTBE market rose this week compared with last week, with an increase of about 50-300 RMB/ton. In Shandong Province, the recent inflow of goods from Northeast China is limited, and the export sales of main refineries in Shandong Province are limited. In addition, some downstream refineries purchase moderately, and the merchants actively push up the price, so the price rises to 6000 RMB/ton again. Supported by the sustained rise of Shandong, North China and Northeast China actively followed the rise. The southern market, boosted by the continued rise of the northern market, saw a slight rise in business.
In terms of the external market, as of June 10, the closing price of the Asian MTBE market was down by US $6.5/t compared with the previous trading day, while FOB Singapore closed at the US $742.5-744.5/t. The closing price of the MTBE market in Europe increased by US $3 / T compared with the previous trading day, and FOB ARA closed at US $775.5-776 / T. The closing price of the MTBE market in the United States increased by US $3.44/ton compared with the previous trading day, and FOB Gulf offshore price closed at US $775.25-775.6/ton (218.38-218.48 cents/gallon).
Near the Dragon Boat Festival holiday, the downstream gasoline merchants prepare the goods in advance. MTBE analysts of SunSirs believe that the domestic MTBE market will continue to consolidate in the short term.