14 January 2010 08:44 [Source: ICIS news]
SINGAPORE (ICIS news)--Petrochemical giant Saudi Basic Industries Corp (SABIC) is expected to resume operations at its 300,000 tonne/year methyl tertiary butyl ether (MTBE) plant in Saudi Arabia in early February, following a maintenance shutdown, traders said on Thursday.
The regular maintenance, which started early this month, would take place for about 30 days, they added.
Current MTBE prices in Asia were assessed at $810-830/tonne (€559-573/tonne) FOB (free on board) Singapore, compared with $810-840/tonne FOB Singapore last week as regional demand remained thin, the traders said.
The arbitrage economics to move MTBE cargoes into China were no longer viable, as domestic Chinese refineries, which were operating at full tilt, were churning out much gasoline supply, they added.
($1 = €0.69)Additional reporting by Heng Hui
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