Europe's MTBE market soared 20/mt Tuesday to close at 63S640/mt FOB AR,buoyed by the firm mogas-to-MTBE factor following what sources described as "renewed demand." In early London trading,a Ikt deal for any-June lifting was reported done at 1.35 factor,producer to an industry-player,compared to a factor of 1.30-1.34 pegged last Friday.Friday's market closed at 615-620/mt FOB AR,translated to an MTBE value of 648/mt FOB AR,based on July mogas swap of around 480/mt FOB Rotterdam.Meanwhile,two separate Q3 strips were transacted at a 1.30 factor,producer to a trader.
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