04 October 2007 20:50 [Source: ICIS news]
HOUSTON (ICIS new)--There is a worldwide shortage of refined glycerine, a US seller said on Thursday.
“There is not enough glycerine on the globe right now,” one glycerine seller said, pointing out short supply conditions in Europe, Asia and the US.
East coast traders confirmed that Asian importers were largely sold out, with no new shipments expected until late December.
“Asian material is running about 63-65 cents/lb ($1,389-1,433/tonne) FOB (free on board) warehouse on the East coast,” the seller said.
Another importer said prices in Asia were rising sharply and mentioned an unconfirmed deal done for export to the US at 65 cents/lb FOB Malaysia for December delivery.
Adding estimated freights would place the delivered price in the 70s cents/lb, according to the source.
According to global chemical market intelligence service ICIS pricing, US September contracts for vegetable and tallow glycerine were respectively assessed at 51-60 cents/lb and 46-51 cents/lb DEL (delivered).
The US is a historic and ongoing net importer of glycerine, typically sourcing the majority of material from Asia.
US glycerine manufacturers include Proctor & Gamble, Uniqema, Cognis, Chemtura and Dial. Importers include multi-nationals such as Proctor & Gamble, Archer Daniels Midland, Ecogreen and Acidchem.
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