09 April 2012 08:33 [Source: ICIS news]
MTBE supply in
Panjin Heyun New Materials shut in early April its 200,000 tonne/year MTBE unit at Panjin in
Zhanjiang Dongxing Petrochemical plans to shut its 80,000 tonne/year MTBE unit at
Few import cargoes are expected to arrive in
MTBE demand is expected to recover in April as the weather grows warmer and boosts gasoline consumption. MTBE is a major blending feedstock for gasoline and approximately 90% of
A Chinese MTBE producer said the number of buying enquiries is increasing.
However, MTBE prices are unlikely to see any significant rise this month as the already-high prices are weakening buying interest, industry sources said.
MTBE prices in south China rose to yuan (CNY) 9,400/tonne ($1,490/tonne) on 5 April, a historical high since May 2011, according to C1 Energy, an ICIS service in
In addition, sentiment in the gasoline market is bearish because of weakening crude prices. A bearish gasoline market usually causes the MTBE market to be soft.
WTI closed at $103.31/bbl on 5 April, down by $1.92/bbl from 2 April.
($1 = CNY6.31)
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