22 August 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The European ethyl tertiary butyl ether (ETBE) premium over methyl tertiary butyl ether (MTBE) edged down again this week, with unseasonal poor demand continuing to place strong downward pressure on premiums.
The ETBE premium is now at $0-50/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp), a drop of $10/tonne from last week.
Premiums had reached a high of $100-160/tonne (€75-120/tonne) FOB ARA during early July, but the healthy interest seen in the spot market was short-lived, leading to lower premiums now being quoted.
Outright ETBE prices edged up this week owing to firmer MTBE values.
Sources note that volumes are still being sourced contractually; however, there has been little demand for any further requirements in the spot market.
“Buyers looking for blending components continue to opt for MTBE, owing to its discount to ETBE,” one trader said.
($1 = €0.75)
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