Asian MTBE hits 20-year high of $1,284/mt FOB Singapore

摘要

Singapore — The Asian benchmark price of oxygenate MTBE hit a nearly 20-year high of $1,284/mt FOB Singapore Wednesday, according to Platts data. The price increased by $13/mt on the day, amid firm gasoline and record MTBE price levels in Europe, with the FOB Amsterdam-Rotterdam- Antwerp price reaching $1,603/mt Tuesday. The price difference of $319/mt between Europe and Asia is likely to pull spot cargoes from the Middle East to the west rather then to Asia. This means Asian prices would need to rise in order to compete for spot cargoes from large producers in the Middle East, such as SABIC.