07 September 2012 05:08 [Source: ICIS news]
By Hedy Dong
Ex-terminal barge prices of MTBE in south China rose to CNY9,250-9,350/tonne ($1,459-1,475/tonne) on 6 September, up by CNY550/tonne from one month ago, according to C1 Energy, an ICIS service in
MTBE prices have been rising since early July, gaining an average of CNY1,850/tonne on the back of firmer international crude prices, which boosted sentiment in the gasoline market.
On Friday morning,
Around 90% of MTBE in
However, high prices have sidelined market players, with buying activities restricted to those with urgent need.
Uncertainties in crude price direction could also weaken buying interest in the MTBE market. Weakening global demand and geopolitical tensions between
On the supply side, MTBE plants in
The same average operating rates may apply for September because of a number of turnarounds, they said.
Imported material, on the other hand, remained in limited supply, with August imports volume at about 15,000 tonnes, industry sources said.
Meanwhile, expectations of a yuan (CNY) 400-500/tonne hike in domestic fuel prices in mid-September will continue to lend some support to the MTBE market, industry sources said.
Under the existing pricing scheme,
For the period 8 August to 5 September, the moving average of Brent,
($1 = €0.81 / $1 = CNY6.34)
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