20 September 2012 10:58 [Source: ICIS news]
SINGAPORE (ICIS)--Asia’s methyl tertiary butyl ether (MTBE) prices plunged by $53/tonne (€41/tonne) on Thursday to land at a seven-week low, tracking losses in the crude futures market, traders said.
MTBE prices were assessed at $1,101-1,103/tonne FOB (free on board) ?xml:namespace>
“Brent [crude] fell by close to $5/bbl in just one day, MTBE prices have to move down in tandem,” a Singapore-based trader said.
“Demand is already not good for now, with oil futures collapsing, there is no support on MTBE prices at all,” a Chinese trader said.
($1 = €0.77)
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