06 November 2007 21:31 [Source: ICIS news]
HOUSTON (ICIS news)--The run-up in US refined glycerine prices is continuing on tight supply, with no relief expected, an importer and trader said on Tuesday.
“We are seeing new Malaysian prices for drummed kosher glycerine in the 80s cents/lb for first-quarter delivery,” the source said.
Glycerine prices in the 80s cents/lb in Malaysia mean higher prices in the US, as domestic sellers and buyers are continuing to cope with ongoing tight supply-conditions jousting with strong demand factors, market sources said.
Major refiner Cognis Oleochemicals has already announced a 15 November price increase to be sought on all of its glycerine at plus 10 cents/lb, and market sources anticipated that other increase initiatives would emerge.
Refined glycerine contract prices rose 15-16 cents overall from August to October on both vegetable- and tallow-derived material, according to global chemical market intelligence service ICIS pricing.
The rise put October vegetable glycerine contracts at 54-64 cents/lb and tallow at 47-53 cents/lb.
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