Europe MTBE prices pick up on higher factor level

22 August 2014 17:00 Source:ICIS News

LONDON (ICIS)--European methyl tertiary butyl ether (MTBE) prices picked up this week following significant losses made the previous week, ICIS data showed on Friday.

Although upstream energy values were weaker, the MTBE factor level over Eurobob gasoline cash barges increased to 1.18-1.20 on Friday, from 1.16-1.17 last week, to maintain the upward pressure on prices.

Sources note that demand for MTBE still remains strong, but that supply is a little short.

One trader commented that this could impact MTBE prices further in the coming weeks.

Strong demand continues to be seen in the Baltic, as well as northwest Europe and the Mediterranean region.

MTBE prices were at $1,130/tonne FOB (free on board) AR (Amsterdam-Rotterdam), up $51/tonne from the same time last week.

By Neha Popat