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Updated to Q3 2017
Increasing domestic demand over the summer period and higher exports saw the European MTBE market tighten in mid-July and into August. However, further into August, the market was described as long during the peak summer holiday season. A turnaround at a European MTBE unit in September, compounded by increased exports to South America in the wake of the destruction caused by Hurricane Harvey in the US Gulf Coast, meant there was limited availability towards the end of the quarter.
Seasonally high demand typically seen in the summer months was noted at the beginning of the quarter for European MTBE. Buying interest slipped in August with the traditionally quieter summer holiday period in force, before picking up again in September when players returned to the market. A high level of exports was noted during the quarter, especially heading into September, in the aftermath of Hurricane Harvey.
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