29 November 2013 22:59 [Source: ICIS news]
LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) prices edged down this week, pressured by lower gasoline values and a weaker MTBE factor level, sources said on Friday.
The factor over Eurobob gasoline cash barges fell to 1.10, down from 1.11-1.13 last week.
With the factor remaining at historically low levels, sources thought this ought to encourage buyers into the market.
The low MTBE prices have failed to ignite any buying interest in the spot market, however, with only four deals reported taking place this week.
With gasoline demand also low, MTBE producers note that interest from blenders remains lacklustre.
While MTBE prices remain at low levels, one trader suggested that buyers may soon step into the spot market.
MTBE values were at $1,036/tonne (€767/tonne) FOB (free on board) AR (Amsterdam-Rotterdam) at the close of business on Friday, down from $9-39/tonne last week.
($1 = €0.74)
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