Offshore MTBE market closing prices declined on June 9: The Asian MTBE closing price fell by $29.74/tonne from the previous trading day, with FOB Singapore prices settling at $860.54–$862.54/tonne. The European MTBE closing price dropped by $26.25/tonne, with FOB ARA prices settling at $999.24–$999.74/tonne. The US MTBE closing price decreased by $17.54/tonne, with FOB Gulf Coast prices settling at $1,123.08–$1,123.44/tonne (317.11–317.21 cents/gallon).
On June 9, offshore MTBE prices in the Asian, European, and US markets all declined, with drops ranging from $17.54 to $29.74/tonne. Consequently, import costs have shifted downward; this will exert downward pressure on domestic MTBE spot prices.
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