In June, the domestic MTBE market fluctuated at a high level, following the fluctuation of crude oil market. According to the data of business agency, the MTBE price at the beginning of the month was 8137 yuan / ton, and the MTBE market price at the end of the month was 8630 yuan / ton. The price increased by 6.05% in the month and 37.79% year-on-year.
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Trend chart of average price of domestic MTBE producers in Shandong in June 2022:
According to the price monitoring of the business club, in the first half of 2022 (1.1-6.30), 136 commodities rose month on month in the list of bulk commodity prices, mainly in the chemical sector (64 in total) and the agricultural and sideline sector (16 in total), and the commodities with an increase of more than 5% were mainly in the chemical sector; The top 3 commodities with growth rate were butadiene (152.15%), lithium hydroxide (118.46%) and sulfur (89.80%). A total of 95 commodities fell month on month, mainly in the chemical industry (43 in total) and steel (15 in total), and commodities with a decline of more than 5% were mainly in the chemical industry sector; The commodities with the top three declines were electrolytic manganese (-57.47%), magnesium (-46.60%) and glycine (-45.71%). In this half year, the average increase and decrease was 6.53%.
At the beginning of this month, various refineries in Shandong concentrated in ports. The replenishment volume of local refineries was limited, and the demand rose again after the Dragon Boat Festival. However, most MTBE plants in the area still had no source of goods for export. The market supply was in short supply, and the merchants continued to explore the rise. Merchants’ reluctance to sell increased, coupled with the continuous rise of crude oil, and merchants actively followed the rise.
In the middle of May, the domestic MTBE market was still rising and the rise slowed down. The specific reasons were as follows: Although crude oil rose and fell, the current price was still high, which gave the market some psychological support; Gasoline prices continued to rise, with good overall demand; The main refineries in some regions were temporarily shut down, the spot supply in the region was significantly reduced, and the merchants’ willingness to push up was renewed.
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In late June, the domestic MTBE market fell due to volatility. Specific reasons: crude oil entered the downward trend, which had a negative impact on the market; The overall demand for gasoline declined; Shenchi and luzhenfa have resumed operation one after another. The export resources of the market have increased, and the sales pressure of merchants has become prominent.
In terms of external trading, as of the closing on June 27, the closing price of Asian MTBE market increased by 45 dollars / ton compared with the previous trading day, and FOB Singapore closed at 1369.99-1371.99 dollars / ton. The closing price of European MTBE market increased by USD 14.50/t compared with the previous trading day, and FOB ara closed at USD 1920.49-1920.99/t. The closing price of MTBE market in the United States decreased by 14.83 dollars / ton compared with the previous trading day, and FOB Gulf FOB price closed at 1649.04-1649.39 dollars / ton (464.52-464.62 cents / gallon).
Region, country., Closing price, Up and down
Asia, FOB Singapore, 1369.99-1371.99 USD / T, USD 45 / ton
Europe, FOB ARA., 1920.49-1920.99 USD / ton, 14.5 USD / ton
U.S.A., FOB Bay, 1649.04-1649.39 USD / ton, – 14.83 USD / ton
In terms of enterprises, as of June 28, Shandong Chengtai new material MTBE offered 8700 yuan / ton. The 200000 t / a isomerization unit started normally. Shidashenghua’s MTBE quotation was increased by 150 yuan / ton to 8650 yuan / ton. The 200000 t / a isomerization unit started normally. The 400000 T / a mixed alkane dehydrogenation co production 350000 t MTBE unit of Shandong Shenchi Chemical Co., Ltd. started normally, and the MTBE quotation was increased by 150 yuan / T to 8700 yuan / T. The MTBE of Lihua Yijin Petrochemical has no goods for export, and there is no quotation for the time being. 125000 T / a isomerization MTBE unit operates normally. The 350000 T / a mixed alkane dehydrogenation unit of Dongming Qianhai chemical started normally, and the MTBE quotation was increased by 50 yuan / ton to 8600 yuan / ton.
Crude oil has entered a decline, which is bad for the market; The contradiction between supply and demand is becoming more and more obvious, and the sales pressure of businesses remains. MTBE analysts of business agency believe that the domestic MTBE market will fluctuate downward in the short term.
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