01 August 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Ethyl tertiary butyl ether (ETBE) premiums over methyl tertiary butyl ether (MTBE) have decreased by $20-30/tonne this week, according to ICIS data.
Traders said the spot market continues to see unusually subdued activity, and said this is likely to be a factor in the low premiums.
One trader said it is baffled by the quiet activity that has characterised the market for the past month and a half or so. With gasoline consumption generally high in the summer months, ETBE usually sees strong demand and high premiums.
This view contrasted with that of a producer, however, who said it was seeing good demand in line with high gasoline consumption. The producer usually sells direct to customers and deals in larger volumes than is common in the open spot market.
This week’s premium decrease comes on top of the $70/tonne (€53/tonne) slide already seen in the past two weeks.
Premiums were assessed this week at $10-60/tonne.
($1 = €0.75)
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