US exports of MTBE in February retreated from the eight-month high set in January as demand from Mexico scaled back significantly, according to US Energy Information Administration data. Although slightly lower month on month, the total was the highest for a February since 2013.
US MTBE exports in February totaled 1.130 million barrels, up 21.5% from 930,000 barrels in February 2016, but 20% lower than the 1.418 million barrels imported in January, the EIA data showed.
The total was the highest in the month of February since exports of 1.770 million barrels in February 2013.
Mexico, typically the largest importer of US material, imported 596,000 barrels, less than the 1.197 million barrels imported in January -- the highest level since at least 2004, the data show.
The EIA data includes only outright MTBE exports, not MTBE that has been blended into gasoline and then exported.
Venezuela, typically the second-largest importer, imported 273,000 barrels in February, compared with no barrels in January, the data reported.
Chile received 261,000 barrels in February.
US imports in February totaled 253,000 barrels, with 172,000 barrels from the Netherlands.
Imported material will generally be exported to Latin America as MTBE or blended into finished gasoline for export, as the blendstock is not used in the US gasoline pool.
S&P Global Platts assessed US Gulf Coast MTBE on Monday at $1.9525/gal FOB USG, down 2.65 cents day on day.
