28 June 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European methyl tertiary butyl ether (MTBE) factor against gasoline edged up this week, signifying the higher levels of demand now seen in the market, sources said on Friday.
The factor was at 1.15-1.16 on Friday, compared with 1.13-1.15 last week.
Absolute MTBE prices remained relatively stable from last week, however, owing to weaker gasoline values.
A flurry of activity was seen in the open market on Tuesday, with 6 trades reported that day.
Producers have also seen enquiries for further volumes from its regular consumers.
“My customers are taking good volumes and I have to say no to spot opportunities,” one supplier said.
Gasoline stocks in the Amsterdam-Rotterdam-Antwerp (ARA) region fell significantly this week.
One trader suggested this could be a reason for the improved demand for gasoline blending components seen this week.
Demand for MTBE in the Mediterranean remains strong, and is also thought to be picking up in the northwest European market.
MTBE prices were at $1,075/tonne FOB (free on board) AR (Amsterdam-Rotterdam) at the close of business on Friday, up from $1,072/tonne FOB AR last week.
($1 = €0.77)
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