Taiwan’s Formosa sells spot MTBE for February loading

21 January 2010 09:12  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwan’s Formosa Petrochemical Corp (FPC) has sold a 3,000-tonne spot cargo of methyl tertiary butyl ether (MTBE) for mid-February loading at a premium of $10-15/tonne (€7-11/tonne) amid tight regional supply, traders said on Thursday.

The cargo was sold Singapore FOB (free on board) quotes basis, they said.

"Supplies are very tight because of maintenance works in Saudi Arabia and Malaysia," a trader said.

Petrochemical giant Saudi Basic Industries Corp (SABIC) had shut its 700,000 tonne/year MTBE plant at Jubail, Saudi Arabia, on 20 January and the turnaround was scheduled to end on 10 February, traders said.

SABIC's 300,000 tonne/year MTBE plant at Jubail has been shut for maintenance since early January.

Malaysia’s Petronas plans to shut its 300,000 tonne/year MTBE plant at Kuantan, Malaysia, on 8 February for two weeks of maintenance.

($1 = €0.71)

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By: Felicia Loo

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