In May, the domestic MTBE market was all the way up, with obvious rise. According to the data of the business agency, the MTBE price at the beginning of the month was 7200 yuan / ton, and the MTBE market price at the end of the month was 7912 yuan / ton. The price increased by 9.90% in the month and 34.49% year-on-year.
| PVA 2088 (PVA BP20) |
Trend chart of average price of domestic MTBE producers in Shandong in May 2022:
According to the price monitoring of the business community, in April 2022, there were 10 kinds of commodities in the energy sector that rose month on month in the list of bulk commodity prices, including 4 kinds of commodities that rose by more than 5%, accounting for 25% of the monitored commodities in the sector; The commodities with the top three increases were coke (11.98%), coking coal (10.15%) and WTI crude oil (5.07%). There are 5 commodities with a month on month decrease, and 1 commodity with a decrease of more than 5%, accounting for 6.3% of the monitored commodities in this sector; The products with the top three declines were methanol (-10.59%), naphtha (-3.67%) and MTBE (-2.37%). This month, the average increase or decrease was 1.38%.
Comparison chart of MTBE price trend of business club from 2018 to 2022:
Monthly K column chart of MTBE domestic production price of business agency:
Weekly K column chart of MTBE domestic production price of business agency:
At the beginning of the month, in the first half of the week, because the price rose to a high level, encountered downstream resistance, the demand weakened, and the prices of other gasoline raw materials were low, MTBE merchants’ sales were blocked, so they had no choice but to adjust one after another, with a drop of about 200-400 yuan / ton. As the price fell to a low level, downstream businesses were willing to replenish at bargain prices. In addition, it coincided with the sharp rise in international oil prices and the upward trend in gasoline prices. MTBE businesses were very bullish, and the prices followed.
In the first ten days of the month, the international oil price first rose and then fell, and the market mentality fluctuated with it. However, as the price fell to a low level last week, the downstream demand increased. In addition, due to the recent export of some goods and the maintenance of some devices, the overall spot supply is limited, which gives support to the market supply. With the dual coordination of supply and demand, plus the positive support from the periphery, businesses have a strong willingness to push up.
In late June, from a macro perspective, crude oil was still at a high level, supporting the market mentality. On the other hand, at present, there are still export orders in China, which leads to limited domestic spot resources, the effect of tight prices, and the positive rise of businesses. At the same time, the price of gasoline has risen, and the operating rate has further improved. There is an appropriate increase in the demand for raw materials, which gives a certain support to the market demand.
Comparison chart of crude oil (upstream raw materials) and MTBE price trend of Business Club:
| POLYVINYL ALCOHOL |
Comparison chart of MTBE and gasoline (downstream products) price trend of business agency:
In terms of external trading, as of the closing on May 27, the closing price of Asian MTBE market increased by 31 dollars / ton compared with the previous trading day, and FOB Singapore closed at 1217.99-1221.99 dollars / ton. The closing price of MTBE market in Europe increased by USD 26.50/t compared with the previous trading day, and FOB ara closed at USD 1711.99-1712.49/t. The closing price of MTBE market in the United States increased by 42.42 dollars / ton compared with the previous trading day, and FOB Gulf FOB price closed at 1749.78-1750.14 dollars / ton (492.90-493.00 cents / gallon).
Region, Country, Closing price, Up and down
Asia, FOB Singapore, 1217.99-1221.99 USD / T, USD 31 / ton
Europe, FOB ara, 1711.99-1712.49 USD / T, USD 26.50/t
United States, FOB Bay, 1749.78-1750.14 USD / T, 42.42 USD / ton
Crude oil is still at a high level and export orders still exist, giving strong support to the market. At the same time, as the price rose to a high level, the enthusiasm of downstream receiving goods weakened. MTBE analysts of the business agency believe that the domestic MTBE market will be dominated by shock consolidation in the short term.
| http://www.polyvinylalcohols.com |