Ethanol - ETBE (Week Report)
ETBE ETHANOL – T2 has shed €5-10 on the week, which compares favourably to the much larger losses seen in the T1 sector this week. T1 slumped by US$55-70 on the week, with the fall in values attributed mostly to the presence of and increased offers of US material in Europe. It looks like even some traditional Brazilian-only buyers in Europe have been unable to resist the competitive prices for US material – for example, we are seeing some volumes going into the UK market (including a 10,000 cu m lot in February). The Netherlands is also thought to be using some product in its domestic market, and some consumption of US ethanol for ETBE production in Northern Europe is likely.
