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(ICIS) -- European spot prices of methyl
tertiary butyl ether (MTBE) surged to a record high this week, on the back of
robust global oil futures, tight supply and firm demand, triggering a price
rally in Asia, market players said on Thursday. Domestic prices in China also
soared to an all-time peak but are lagging behind the rest of Asia, leaving
Chinese buyers scrambling for spot material, they said.
In Europe, MTBE prices soared to USD 1.438-1.460/tonne (EUR
992-1.007/tonne) FOB (free on board) Amsterdam, Rotterdam, this week, eclipsing
the previous high of USD 1.385/tonne in mid-July 2008, according to ICIS
data.
Prices of the octane booster was assessed significantly stronger as USD
1.190-1.210/tonne FOB Singapore in the week ended 8 April, the highest levels
since 11 July 2008, when MTBE prices closed at USD 1.210-1215/tonne FOB
Singapore, the data showed.
mrcplast.com
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