Taiwan’s FPCC sells 5,000 tonnes MTBE for H1 Nov at +$5/tonne

11 October 2012 11:44  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has sold by tender one parcel of methyl tertiary butyl ether (MTBE) for 1-15 November loading from Mailiao, traders said on Thursday.

The 5,000-tonne lot was sold early this week to a trader at a premium of $5/tonne (€4/tonne) to market quotes FOB (free on board), they said.

The cargo offered is of 95% purity, with sulphur content of 50ppm (parts per million), water content of 1,000ppm and methanol content of 0.5wt% (weight percentage), they said.

“Premiums are edging down. This shows the market is not as strong as it looks,” a Singapore-based trader said.

In end-September, FPCC sold 10,000 tonnes of MTBE for October loading at premiums in the mid- to high-single-digit levels.

($1 = €0.78)

Author: Ong Sheau Ling

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