On February 9, the MTBE international market closed higher: The closing price of the Asian MTBE market increased by USD 3.99 per metric ton compared to the previous trading day, with FOB Singapore settling at USD 662.16–664.16 per metric ton. The closing price of the European MTBE market rose by USD 9.75 per metric ton compared to the previous trading day, with FOB ARA settling at USD 779.99–780.49 per metric ton. The closing price of the U.S. MTBE market increased by USD 13.21 per metric ton compared to the previous trading day, with FOB U.S. Gulf settling at USD 731.52–731.87 per metric ton (206.55–206.65 cents per gallon).
PriceSeek's analysis of MTBE, with a long-short score of 1.5: The closing prices of MTBE in the Asian, European, and U.S. markets increased by USD 3.99, 9.75, and 13.21 per metric ton, respectively, reflecting significant gains. This indicates rising global demand or tightening supply, providing strong support for MTBE spot prices. With FOB Singapore settling at USD 662.16–664.16 per metric ton, FOB ARA at USD 779.99–780.49 per metric ton, and FOB U.S. Gulf at USD 731.52–731.87 per metric ton, this broad upward trend may drive domestic MTBE spot prices to follow suit, strengthening market bullish sentiment.
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