20 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Growing demand for ethyl tertiary butyl ether (ETBE) in Europe has led the premium over methyl tertiary butyl ether (MTBE) to increase again this week, sources said on Thursday.
Following an increase last week, the ETBE premium is now at $80-140/tonne (€60-105/tonne) FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp), an increase of $10/tonne.
Producers note an increase in the number of enquiries in the spot market, as well as for contracted volumes.
One producer said demand for ETBE has been higher than expected in June.
“I expect it [demand for ETBE] will increase further throughout July,” it said.
The producer added it has received enquiries from participants throughout Europe it had not had in the past. It therefore remains confident for improved levels of demand during the summer months.
Another producer said it has heard of firmer offers in the market, a sign of improving demand in Europe. Although, nothing was heard trading at these higher levels this week.
The average of MTBE trades was $1,110/tonne FOB AR, up by $15/tonne from last week.
($1 = €0.75)
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