I. Introduction.
Since January this year, the post-carbon four market of Shandong ether has maintained a weak balance between supply and demand. The "cautious optimism" mentality after New Year's Day prompted a moderate slight rise in **, but the current market stalemate phase is still continuing, and when there will be a turnaround has become the focus of attention in the industry. 
Data**: Longzhong Information.
2. Review of the post-carbon four market in Shandong ether.
Looking back at the market data in recent years, so far this year, the overall performance of the post-carbon four market in Shandong ether is still stable. According to the statistics of Longzhong Information, the average market price of carbon four after Shandong ether this year is 5,240 yuan ton, although it is lower than last year's average price of 5,607 yuan ton, but 305 yuan ton higher than the average price of 4,935 yuan ton in the past five years. Although the trend is less than expected, it still shows strong resistance compared with the flat in the past five years.
Third, the current situation and outlook of the market.
At present, the relationship between supply and demand in the Shandong ether market is relatively balanced, and the market mentality is cautious and optimistic. However, with the gradual approach of the Spring Festival holiday, the weakening of manufacturers' inventory and market demand may gradually contain the ether market, but fortunately, the pressure is relatively limited at this stage. In the stalemate phase, all parties in the market are waiting for a turnaround.
There are a few key factors to keep an eye on:
1.Changes in the relationship between supply and demand: The weak balance between supply and demand in the aftermarket of Shandong ether is the core factor to maintain the current stalemate stage. The theoretical profit of the downstream deep processing enterprises in the zone is relatively stable, and the theoretical profit of the independent alkylated oil mtbe unit in the zone is -36 according to the calculation25 yuan tons and 188 yuan tons, both at the highest level since the fourth quarter of last year, when considerable profits can be converted into demand increase, has become a key factor affecting the subsequent market trend.
2.Fluctuations in raw materials: According to the calculation of Longzhong data, some independent gas separation units in the area have fallen below the theoretical cost line through the processing of externally extracted raw gas, and there is no substantial impact in the region, but if the loss situation continues to be difficult to improve, it is not excluded that the reduction of production of some independent gas separation units may lead to a decline in the volume of carbon four market after ether in the region.
IV. Conclusions. At present, I have not heard of the adjustment plan of upstream and downstream devices, and the balance of supply and demand in the Shandong ether market may continue, but with the impact of supply and demand, raw material pressure and international fluctuations, the fundamentals are expected to usher in a turnaround in the future. All things considered, it is expected that the market will maintain a narrow range of adjustment after the inner Shandong ether, and it is still seeking a turnaround in a steady manner, and if the supply and demand situation is improved in the future, it is expected to move upward.