02 May 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European ethyl tertiary butyl ether (ETBE) premium to related methyl tertiary butyl ether (MTBE) was steady this week, but outright spot prices declined, sources said on Thursday.
Despite a stable ETBE premium of $20-60/tonne (€15-46/tonne), sliding MTBE values saw the outright ETBE price take a step down this week.
The outright ETBE price declined $17/tonne this week to $1,060-1,100/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp).
The average MTBE trade price declined by $17/tonne over the past week, tracking weaker energy values.
ETBE trade remains slow, partly because of the delayed onset of spring and ample supply.
In addition, suppliers are in no hurry to sell as some expect values will rise.
($1 = €0.76)
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