14 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) spot prices declined from last week owing to a weaker MTBE factor against gasoline, sources said on Friday.
The factor declined to 1.14 during the early part of this week, however by the end of the week reached 1.15 again.
Weaker gasoline values led to an overall decline in MTBE prices from last week, however.
"There has been good demand globally, with more [MTBE] being consumed in Asia, the Middle East and Mediterranean," one trader said.
The trader added that demand in the ARA (Amsterdam-Rotterdam-Antwerp) region remained weaker than expected for the time of year.
Market participants remain hopeful for a pick up in the ARA region soon, as demand slowly improves in the lead up to the summer driving season.
MTBE prices were at $1,095-1,100/tonne FOB (free on board) AR (Amsterdam-Rotterdam) on Friday, down $3-8/tonne from the same time last week.
($1 = €0.75)
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