13 September 2013 16:33 [Source: ICIS news]
LONDON (ICIS)--Demand for methyl tertiary butyl ether (MTBE) outside contract business has declined as blenders switch from summer to winter specification gasoline, market sources said on Friday.
“Nothing really has happened and I’ve not closed anything. People don’t need product. If offers come off maybe there will be some interest,” said one trader.
A second trader also said it had not seen any spot MTBE buying interest this week.
“I’ve nothing really to say. It’s quiet,” it said.
Despite limited buying or selling interest in open market trading, a producer selling on a contractual basis said business was still at a healthy level.
“There is nothing to say - it's really quiet [in the spot market]. No bids and offers are taking place, but from our side [contract] demand is good and healthy,” the producer said.
Comparing the current average value of spot MTBE year-on-year, it is currently down by $254/tonne (€191/tonne) on an FOB (free on board) RA (Rotterdam/Amsterdam) basis.
($1 = €0.75)
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