18 March 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--Refined spot glycerine levels are increasing due to the tightening situation in the crude glycerine market, sources said on Wednesday.
Spot levels for tallow-grade material were assessed at €410-450/tonne ($533-584/tonne) FD (free delivered) NWE (northwest ?xml:namespace>
Prices were assessed by global chemical market intelligence service ICIS pricing.
One large seller said it expected spot prices to increase further, with second-quarter contracts already settling at levels of €450-500/tonne FD NWE for tallow material and €500-550/tonne FD NWE for vegetable product.
Buyers said they were aware of the increases because of the shortage in crude glycerine stocks. But most reported having sufficient supplies and, as such, they were able to avoid entering the spot market.
Glycerine is used in adhesives, paints and resins, as well as in toiletries, food emulsifiers and cosmetics.
($1 = €0.77/$1 = £0.72)
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