LONDON (ICIS)--The higher levels of trading activity continued in the European methyl tertiary butyl ether (MTBE) market this week, sources said on Friday.
A total of nine trades were seen during the open market session; however, the MTBE factor against Eurobob gasoline cash barges remained at similar levels to the previous week, at 1.15-1.16.
With little change to upstream energy values, MTBE prices also remained within a similar range.
Despite the increased purchases in the spot market for a second consecutive week, one trader said it believed these were to satisfy export demand, rather than domestic demand.
Participants do not expect a significant increase in European demand until the end of Q1, in line with the anticipated improved demand for gasoline, and therefore its related products.