Ethanol - ETBE (Week Report)
ETHANOL – The picture this week is one of downward pressure across the board, with ethanol partly tracking the softening in energy prices. T1 prices surged through week to reach fresh record highs of US$720 on Thursday (eclipsing previous highs of US$715 in December 2008) - but values began to collapse on Tuesday, falling back to US$685-690. March T1 is heard well below that, at around US$640. The inflow of US material into Europe is one element having an effect on prices – perhaps earlier than some expected. Fresh offers of US material were heard this week – a tender to supply 35,000-50,000 cu m EN specs US origin ethanol for delivery March was out, with bids due in by close of business on Tuesday.
