US refined glycerine price sentiment rises again

11 March 2008 19:12  [Source: ICIS news]

HOUSTON (ICIS news)--Price sentiment in the US refined glycerine market is on the rise again, buyers and sellers said on Tuesday.

A groundswell of higher price ideas from several main domestic glycerine refiners and suppliers surprised some buyers who confirmed their Q2 glycerine values could move up as much as 30 cents/lb ($661/tonne or €430/tonne) from present levels.

The sticking point, however, is from what level these buyers were moving up, suppliers said.

Some buyers were able to sustain long-term price agreements in 2007 that have kept them below the super-heated upward price drives that developed in the fourth-quarter as a result of tight global supplies and new demand, market sources said.

It was these long-term agreements that were getting the biggest punch going into the second quarter, according to sources.

February vegetable glycerine contracts were assessed in an 80-95 cents/lb bulk delivered range, according to global chemical market intelligence service ICIS pricing. The February contract spread for tallow glycerine was 65-76 cents/lb.

Primary US glycerine suppliers and refiners include Procter & Gamble, Dial, Uniqema, Cognis and Cargill, among several others.

($1 = €0.65)

By: Judith Taylor
+1 713 525 2653

< previous article(ICIS Podcast: Chemical News Central 2 November 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly