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(ICIS) -- Asia’s MTBE prices may drift
lower in the last quarter of the year as a jittery global economy, accompanied
by volatile crude values, will likely dampen demand for the octane booster in
gasoline, traders said on Tuesday.
Spot MTBE prices were at USD 1,069-1,071/tonne (EUR 791-793/tonne) FOB
(free on board) Singapore on Monday, down by an average of USD 45/tonne from USD
1,104-1,126/tonne in the week ended 23 September, ICIS data showed.
A slew of dismal economic data from Europe, the US and China sent global
equities markets tumbling and crude prices falling by about $5/bbl on 22
September. Investors fled to the safety of bonds that significantly strengthened
the US dollar. However, crude futures bounced higher on Tuesday, buoyed by news
that the European Central Bank may work towards implementing more aggressive
measures to remedy the region’s mounting debt crisis.
mrcplast.com
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