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.
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)
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