Crude oil plummeted, bad market mentality. The downstream demand is gentle, and the merchants keep shipping. According to the data of SunSirs, as of May 14, the price of MTBE was 5926 RMB/ton, with a month on month decrease of 3.89% and a year-on-year increase of 71.19%.
MTBE market is mainly held to, with limited volatility. Crude oil stopped rising and falling, and the market mentality was weak, and the gasoline market was generally sold, and the demand for raw materials was flat. Although the main refineries in Shandong Province are overhauled, the demand in the area is general, and the market is not easy to rise and fall. In the south market, the import sources have arrived in succession in recent years, with abundant supply, but the demand is flat and the merchant is slow to ship.
On the external market, as of May 14, FOB Bay offshore price of the United States closed at USD 787.78-788.14/t, up $5.36/t, European FOB ara closed at $732.5-733 / T, down $3.5/t, Asian FOB Singapore closed at $691-693 / T, down $41 / T.
In the near future, it is difficult to change the flat demand situation, and the market will continue to be in the transition of consolidation. Business community MTBE analysts believe that the domestic MTBE market will be stable in the short term.
