23 May 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The ethyl tertiary butyl ether (ETBE) premium over methyl tertiary butyl ether (MTBE) edged up for the second consecutive week, sources said on Thursday.
The ETBE premium is now at $60-120/tonne, an increase of $20/tonne on the high end from last week.
Suppliers remain hopeful that this is the start of the high summer demand season for gasoline blending components.
A trader saw an ETBE trade in the spot market at $1,193/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp) but noted that demand for the product is not as high as expected for the time of year.
Demand in the spot market continues to fluctuate, and despite the optimism shown by many suppliers, other market participants remain unsure as to whether the upwards trend will continue in the coming weeks.
MTBE prices also increased this week, placing further upward pressure on outright ETBE prices.
The average of MTBE trades was $1,083/tonne FOB AR, up by $10/tonne from last week.
($1 = €0.78)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections