China's MTBE Prices Surge on Strong Demand and Tight Supplies
China's MTBE market prices have continued to rise, with an increase of 3.33% between August 21 and August 28. The price rose from 7,026 RMB/ton to 7,260 RMB/ton during this period. This represents a month-on-month rise of 5.61% and a year-on-year increase of 45.14%. SunSirs' commodity market analysis system reported these numbers.
The domestic MTBE market trend has continued to shift upward despite international crude oil prices retreating after reaching highs. Market participants showed strong interest in purchasing relevant gasoline blending components, driving smooth MTBE transactions. Coupled with tight spot supplies, manufacturers actively pushed prices up to higher levels; even after crude oil prices fell, the MTBE market remained relatively resilient.
The demand side of the market is influenced by bearish factors, while refineries showed a strong willingness to support prices due to low production and inventory levels. As the 'Golden September' peak season approaches, intermediate traders have begun stocking up, and downstream merchants are maintaining high inventory levels for trading; overall market shipment performance has been satisfactory.
On the supply side, plants such as Shenghong Refining & Chemical, Haite Weiye, and Huayi Chemical may commence operations, potentially increasing resource supplies. The MTBE supply outlook is also influenced by bearish factors. As of the close on August 27, the Asian MTBE market closing price rose by $19.65/ton from the previous trading day.