US MTBE Chemical Industry: Pricing firms globally

Mathanol Prices

– Gulf Coast spot increases 1.04 cents/gal

– MOC offer seen at 213.75 cents/gal

While spot Gulf Coast MTBE continued to rise Thursday, the ceiling for the price was set by an offer in the  Chemical Industry on Close assessment process. In the MOC assessment process, Lukoil offered 214 cents/gal FOB USG for 45,000 barrels, walking it down just 25 points to 213.75 cents/gal FOB USG. No trades or corresponding bids were confirmed Thursday. S&P Global assessed NYMEX May RBOB at 204.18 cents/gal at the Houston MOC close, up 1.04 cents a day on day. Blended and shipped values were last estimated at near 274 cents/gal while the MTBE Chemical Industry factor relative to gasoline was at 1.0721. MTBE in other regions also rose, with FOB Singapore increasing $16/mt (about 4.50 cents/gal) to $764/mt (about 215 cents/gal) and FOB Rotterdam climbing 2.25 cents/gal to 220.95 cents/gal.

RATIONALE:

S&P Global assessed spot USG MTBE Chemical Industry at 212.74 cents/gal FOB USG, up 1.04 cents day on day. The assessment was based on an unchanged 8.56-cent premium to NYMEX May RBOB and came below an offer in the  Chemical Industry on Close assessment process.

 

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