25 October 2013 17:16 [Source: ICIS news]
LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) prices continue to decline on weak consumer demand, as well as lower upstream energy values, market participants said on Friday.
With demand for gasoline now at low levels, sources noted that demand for MTBE has also seen a corresponding decline in demand.
The factor level edged down as a result, starting the week at 1.12 and ending at 1.11.
A trader lamented that the factor is almost at the lowest level it has seen “in three years.”
With limited levels of gasoline demand both in Europe and overseas, the trader added that it doesn’t anticipate any significant improvement in demand from levels currently being seen in the market.
MTBE was at $1,018-1,019/tonne FOB (free on board) AR (Amsterdam-Rotterdam) at the close of business on Friday, down $55-56/tonne from last week.
($1 = €0.72)
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