According to the Commodity Market Analysis System of Shengyi Society, from March 17th to 21st, MTBE prices fell from 5750 yuan/ton to 5737 yuan/ton, with a price drop of 0.22% during the cycle, a month on month drop of 2.75%, and a year-on-year drop of 18.76%. The MTBE market trend is weak, with sporadic price adjustments as the main trend, and overall showing a sideways trend. The trend of international crude oil is fluctuating, and the demand for gasoline terminals continues to be weak, with only sporadic periods of terminal replenishment.

In terms of cost and crude oil, the rise in international oil prices is mainly due to the positive factors of the United States taking action against the Houthi militants in Yemen and insisting on sanctions against Iran and Russia, which increases potential supply risks. As of March 20th, the settlement price of the main Brent crude oil futures contract was $71.47 per barrel.

On the demand side, international crude oil futures have fluctuated downwards, and the refined oil market has continued to decline. Refineries have lowered prices and promoted sales. Intermediate traders are digesting their previous inventory, and new orders are cautious. Downstream merchants purchase according to demand. There is no short-term holiday boost, and there is no significant positive impact on private car travel for the public. Short term MTBE demand is influenced by bearish factors.

Supply side: There is an expectation of an increase in resource supply. Short term domestic MTBE supply is affected by bearish factors.

As of the close on March 20th, the closing price of the Asian MTBE market has increased by $4.09/ton compared to the previous trading day, with FOB Singapore closing at $708.58-710.58/ton. The closing price of the European MTBE market increased by $3/ton compared to the previous trading day, and FOB ARA closed at $773.74-774.24/ton. The closing price of the MTBE market in the United States increased by $31.52/ton compared to the previous trading day, and the FOB Gulf offshore price closed at $782.02-782.38/ton (220.81-220.91 cents/gallon).

There is a narrow expectation of an increase in MTBE resource supply in the future, while terminal demand remains weak. MTBE analysts from Shengyi Society believe that the domestic MTBE market is mainly consolidating due to weak market conditions.