Shandong MTBE Prices Fluctuated Frequently in March

Shandong MTBE Prices Fluctuated Frequently in March

In March, the MTBE prices in Shandong fluctuated frequently, and the overall MTBE price fluctuated downward.

In March, the consumption volume of gasoline was relatively low, so the demand for MTBE was tepid. On the one hand, the sales of gasoline at independent refineries remained average, as there were few state-owned refineries purchased resources from the market. On the other hand, most refineries suffered profit losses, so the refineries showed resistance to high-priced MTBE. Accordingly, the demand for MTBE continued to weaken, and the sales of MTBE were tough. Therefore, the dealing prices of MTBE dropped from RMB 5,700/mt to RMB 5,400-5,450/mt. Later, with the downstream demand recovery, the sales of MTBE resumed. Meanwhile, the international crude oil prices hovered at highs, giving support to the market sentiment. Therefore, the MTBE prices in Shandong rose to RMB 5,500-5,550/mt. Meanwhile, the gasoline market remained average, and the downstream demand weakened gradually. Accordingly, the MTBE prices quickly decreased to RMB 5,300-5,350/mt, and traders started to buy on the dips. Supported by the sales recovery, the MTBE prices at producers rebounded by RMB 100/mt.

As seen from the chart, the MTBE prices in Shandong fluctuated frequently in March, and the overall MTBE price fluctuated downward. In Shandong, the sales of gasoline were tepid, as most downstream users purchased resources on a need-to basis. Meanwhile, the trading activity in the MTBE market was active. Accordingly, the MTBE prices fluctuated frequently in recent days. Currently, the international crude oil prices hover at highs, lifting the MTBE cost. By the end of March, SCI estimates that the MTBE prices in Shandong will continue to fluctuate.

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