Newsletter summary
The domestic MTBE market has declined recently.NftgamesfreetoplayplaytoearnThe price decreased from 7325 yuan / ton to 7050 yuan / ton, a decrease of 3%.Nftgamesfreetoplayplaytoearn.75%. International crude oil prices also showed a narrow downward trend, Brent crude oil futures main contract settlement price of 82Nftgamesfreetoplayplaytoearn.79 dollars per barrel. Industry insiders expect that the domestic MTBE market will decline further in the short term.
Text of news flash
[the domestic MTBE market shows a downward trend, and the price may fall further in the short term] from May 6 to 11, the domestic MTBE market has experiencedNftgamesfreetoplayplaytoearnAfter a narrow decline in the market, prices fell from 7325 yuan / ton to 7050 yuan / ton, down 3.75%, down 6.00% from the previous month, and 5.37% from the same period last year. After the festival, the MTBE market mainly showed a concussive pullback trend, downstream operators' enthusiasm for replenishing inventory did not meet expectations, resistance to high-priced gasoline raw materials was more obvious, and purchasing enthusiasm was general. Against the background of a wide decline in the Asian MTBE market, few new export orders have been signed, and operators are generally bearish, resulting in a weak operation of the MTBE market. From the cost point of view, the overall international oil price shows a narrow downward trend, mainly affected by the positive progress of Palestinian-Israeli cease-fire negotiations and geopolitical tension, while the outlook for global demand is still bleak. As of May 10, the settlement price of the main contract of Brent crude oil futures was 82.79 US dollars per barrel, down 1.09 US dollars or 1.3%. On the demand side, the gasoline market is affected by the decline in international crude oil futures prices and the shock and decline of oil products in Shandong. During the May Day holiday, due to poor road transportation and proper stock preparation by some users before the festival, the market purchase and sales atmosphere is relatively light. Although there is a short replenishment after the festival, the lack of terminal demand makes it difficult for the market to pick up continuously. As the pace of procurement in the middle and lower reaches slows and refinery shipments are not smooth, refineries have to cut prices and promote sales to attract customers. In this context, the demand side of the MTBE market is also affected by negative factors. On the supply side, equipment maintenance has been restored one after another, and production has increased. At present, Dongying Qifa, Minghao Chemical, Binzhou Jingbo, Maoming Shihua and other devices are in a state of parking, Qingzhou Tianan plant has been shut down, Shandong Chengtai plant has been started, and the comprehensive output has been reduced. Looking forward to next week, production is expected to increase with the start of Chengtai plant in Shandong and Tianan storage plan in Qingzhou. In the short term, the domestic MTBE supply side is still facing the impact of negative factors. As of May 11, the ex-factory price statistics of some production enterprises MTBE show that the ex-factory prices of Chengtai Chemical Industry, Shi Da Shenghua, Shenchi Chemical, Lihuayi and other enterprises are all between 7050 and 7100 yuan / ton, and the ex-factory price of Dongming Petrochemical is 7000 yuan / ton. On the international market, by the close of May 10, the closing price of Asian MTBE market was 2 US dollars / ton higher than the previous trading day, while FOB Singapore closed at 882.99-884.99 US dollars / ton. The European MTBE market closed $16 / tonne higher than the previous day, while FOBARA closed at $1020.74-1021.24 / tonne. The U. S. MTBE market closing price down 15.12 U.S. dollars / ton compared with the previous trading day, FOB Gulf FOB price closed at 887.03-887.38 U.S. dollars / ton. For the future forecast, MTBE analysts believe that with the Qingzhou Tianan plant construction plan, the supply of resources will further increase. At the same time, the zero price limit for gasoline will be greatly reduced, and the boost on the demand side will be limited. The enthusiasm of the industry to purchase gasoline raw materials is not good, the current price of MTBE is on the high side, and the terminal resistance mentality is strong. As a result, the domestic MTBE market may decline further in the short term.