04 July 2007 23:59 [Source: ICIS news]
LONDON (ICIS news)--The last remaining third-quarter contract discussions for refined vegetable and tallow glycerine were settled up this week, with buyers and sellers on Wednesday reporting hikes of €50-60/tonne ($68-82/tonne) for vegetable and of €40/tonne for tallow grade. ?xml:namespace>
Sustained market tightness on the back of corresponding feedstock scarcity led producers to demand hikes that had been widely forecast and correlated with the spot market trend, which had seen prices firming steadily throughout the latter part of the second quarter.
Global chemical market intelligence service ICIS pricing assessed third-quarter vegetable contract prices at €490-530/tonne FD (free delivered) NWE (northwest Europe).
Tallow glycerine prices were assessed at €440-490/tonne FD NWE.
Glycerine is a bi-product of biodiesel and has more than 1,500 end-uses, including in pharmaceuticals.
($1 = €0.73)
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