Taiwan’s FPCC opens tender to sell 5,000 tonnes of MTBE for Feb

09 January 2013 03:46  [Source: ICIS news]

SINGAPORE (ICIS)--Taiwan’s Formosa Petrochemical Corp (FPCC) has offered via tender a cargo of methyl tertiary butyl ether (MTBE) for February loading from Mailiao, a company source said on Wednesday.

The tender for the 5,000 tonne lot will close by the end of this week, the source said.

“We are discussing the premium now,” the source said.

The recent softening in European prices, coupled with the lacklustre downstream gasoline blending sector, made premiums unattractive, the source added.

Last November, FPCC sold via tender a 5,000 tonne cargo for mid-December loading at a premium of $1.00-5.00/tonne (€0.76-3.80/tonne) to market quotes FOB (free on board).

MTBE is an octane booster for gasoline.

($1 = €0.76)

By: Ong Sheau Ling
+65 6780 4359

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