Methyl Tert Butylether(mtbe) Prices Showed Mixed Trend

By Author: Mirza Zahid Baig
Total Articles: 3
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Asian spot MTBE chemical prices were higher Thursday on 22/12/2016,a result of an increase in gasoline prices.MOPS 92 RON gasoline was assessed at $65.61/b,up 29 cents day on day.But spot discussions were thin as few buyers were active in the market.Also,arbitrage windows to both north and south China were heard to be shut due to lower value domestic chemicals prices in China.Domestic prices in the north were at Yuan 5,600/mt ($657.50/mt),stable on the day.Similarly, prices in the south were at Yuan 5,900-6,000/mt ($698.60/mt),versus Yuan 5,900/mt the day before.Inter-octane spreads were mixed with the 97/92 RON spread flat from Wednesday at $5.08/b.The 97/95 RON spread was also unchanged day on day at $2.26/b and the 95/92 RON spread was also at $2.82/b for a second day running.February ICE Brent crude futures were lower at $54.67/b from $55.82/b at 0830 GMT in Asian trade.
US Methyl tert butylether(MTBE) prices went up
MTBE prices was assessed at $716/mt FOB Singapore Thursday,up $3/mt day on day, tracking gains in gasoline prices.The MTBE factor fell to 1.291 from 1.292 over the same period amid thin discussion.H1 ...
... and H2 January were both assessed at $716/mt FOB Singapore.No bids or offers were registered during the Market on Close assessment process.US Gulf Coast MTBE dipped Thursday amid a slight softening in gasoline prices.US Gulf Coast MTBE prices was assessed at $1.8435/gal FOB USG, down 0.60 cent.The decline marked the second fall of less than 1 cent since the Tuesday reached its highest point since June 10,S&P Global data showed.US Gulf Coast MTBE prices has averaged $1.7294/gal FOB USG in the fourth quarter,a slight rise from the Q4 2015 average of $1.7197/gal FOB USG.The relative stability in Q4 comes despite pricing for the year being down by 25%.US Gulf Coast MTBE averaged $1.6496/gal FOB USG in the first 11 ½ months of 2016,25% lower than $2.2061/gal FOB USG in 2015,data showed.The recent increases in crude and gasoline prices have offered reasons for Styrene monomer for US Gulf Coast MTBE producers in 2017.Demand in Latin America,a key import region,should remain stable in the coming year,with primary importers Mexico,Venezuela and Chile expected to exert a consistent pull on the oxygenate,source said.In production,Enterprise Products Partners started maintenance on the MTBE unit in Mont Belvieu,Texas, on Monday, the company said in a filing.The company planned to conclude work at the 550,000 mt/year unit by Wednesday evening, according to the filing with the Texas Commission on Environmental Quality. NYMEX February crude rose 46 cents to $52.95/b,and ICE February Brent gained 59 cents to $55.05/b.NYMEX January RBOB dipped 15 points to $1.6040/gal.European MTBE prices declined $2 to $619/mt FOB ARA with a softening gasoline prices.The MTBE factor to Eurobob gasoline dipped to 1.173 from 1.176 as EBOB shed $1.25 to $527.50/mt FOB AR.Asian MTBE rose $3 to $716/mt FOB Singapore 92 RON gasoline up 29 cents to $65.61/b.
CHEMICAL ASSESSMENTS;
US Gulf Coast MTBE prices notced on Thursday at $1.8435/gal FOB USG, down 0.60 cent. The was based on a netback to Europe,accounting for the European chemical price plus an estimated 10 cents/gal for freight.MTBE'S factor to gasoline at 1.173 Thursday down fractionally from Wednesday.MTBE loading 7-15 days forward was assessed at $619/mt FOB ARA down $2 from Tuesday.During market on close process, Vitol bought from Shell Trading for a mid-window laycan at $622/mt FOB ARA. Bids from BP for mid-window and front-end loading dates were left outstanding at $616/mt and $608/mt respectively on FOB ARA bases.A third bid from LyondellBasell for a mid-window laycan was left outstanding at $605/mt FOB ARA.The market showed a contango structure even as ,source saw spot MTBE demand flat in early 2017 and inventory levels were heard high. Demand for the last week of December was seen minimal.Indications were bullish from other markets.Asian spot MTBE prices were higher Thursday,a result of an increase in gasoline prices.MTBE was assessed at $716/mt FOB Singapore Thursday, up $3/mt day on day, tracking gains in gasoline prices.US Gulf Coast MTBE down off a six-month high Wednesday, but pricing has remained strong in the typically softer fourth quarter. US Gulf Coast MTBE prices was assessed at $1.8495/gal ($657/mt)FOB USG,down 0.80 cent.US Gulf Coast MTBE pricing has averaged $1.7274/gal FOB USG through Q4,a rise from the Q4 2015 average of $1.7197/gal FOB USG.February ICE Brent crude futures firmed just 1 cent from Wednesday to $55.04/b at 16:30 close Thursday.
MTBE ASSESSMENTS;
MTBE'S factor to gasoline prices at 1.173 Thursday down marginally from Wednesday.MTBE loading 5-15 days forward was assessed at $619/mt FOB ARA down $2 from Tuesday. During the MOC process,Vitol bought from Shell Trading for a mid-window laycan at $622/mt FOB ARA.The mid-window price was assessed at the deal level.With Eurobob gasoline prices barges assessed at $527.50/mt FOB ARA,this resulted in the factor being assessed at 1.179 for the mid-window laycan.The factor for back-end dates was assessed at the same level on lack of fresh indications. The front-end factor was rolled over at 1.168 as the previous day's factor was not disproved. The factor for 5-15 days forward was assessed at 1.173 by drawing a curve between the three laycans.Spot ETBE prices was assessed at $789/mt FOB ARA at a $170 premium to MTBE based on indications heard in the market.