26 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The healthy levels of activity seen in the European methyl tertiary butyl ether (MTBE) market continued this week, with 13 trades reported during the open window session, ICIS data showed this week.
Despite the increased trading activity during the open market session, the factor remained stable throughout the most part of the week, at 1.14-1.15, before edging up to 1.16-1.17 on Thursday.
Gasoline stocks in the ARA (Amsterdam-Rotterdam-Antwerp) region continued to decline this week, leading to the higher interest among blenders.
In spite of this, a producer believes there is still good availability of MTBE in Europe, and this could be one of the reasons behind the stable factor level.
The producer saw some MTBE being traded in the paper market on a factor basis of 1.17 for August.
“I don’t expect a massive improvement in the physical market next month as a result,” he added.
MTBE prices traded at $1,150-1,172/tonne (€863-879/tonne) FOB (free on board) AR (Amsterdam-Rotterdam) this week, a drop of $28-31/tonne from last week on lower gasoline values.
($1 = €0.75)
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