Taiwan’s CPC skips spot MTBE tender purchases for January 2013

07 December 2012 04:49  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s CPC Corp will skip spot purchases for methyl tertiary butyl ether (MTBE) for January 2013 via tender, a source close to the company said on Friday.

CPC did not issue any tender to buy for December 2012 as well.

“We have sufficient stock levels and demand is weak,” the source said.

The company last bought by tender 5,000-10,000 tonnes for delivery into Keelung or Kaoshiung in November at market quotes plus $5-10/tonne (€4-8/tonne).

Demand from the downstream gasoline blending sector is traditionally slow towards the year-end because of the driving season lull, market players said.

CPC typically has to purchase one or two 5,000-tonne spot cargoes each month in addition to its term contracts.

MTBE is used as an additive to boost the octane level in gasoline.

($1 = €0.77)

Author: Ong Sheau Ling

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