Gasoline Fever Lures Bumper Exports of Niche Chemical From China
- Overseas shipments of MTBE last month rise sixfold from April
- Tight market for high-octane components as refining squeezed
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China’s exports of a chemical used to improve the quality of gasoline surged as producers took advantage of higher prices overseas.
Exports of a group of chemicals that includes methyl tert-butyl ether, known as MTBE, rose to about 87,400 tons in May, according to government data. That’s a sixfold gain from April and the highest level in Chinese customs figures going back to 2017. Industry consultant OilChem estimates that most of the exported volumes were MTBE, which boosts the octane rating of gasoline.