01 April 2009 23:59 [Source: ICIS news]
LONDON (ICIS News)--European second-quarter refined vegetable and tallow glycerine contract settlements were finalised at up to €90/tonne ($120/tonne) higher than first-quarter prices due to tightness in raw materials, buyers and sellers said on Wednesday.
Prices were reported at €400-450/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Vegetable-grade material was settled at levels of €450-490/tonne FD NWE, sources said.
Prices were heard both above and below the ranges, but the majority of market participants confirmed the new ranges.
Vegetable material was assessed at £420-455/tonne FD
The increases were attributed to tightness in crude glycerine due to lower biodiesel production, sources said.
Uses for glycerine include adhesives, paints and resins as well as toiletries, food emulsifiers and cosmetics.
($1 = €0.75/$1 = £0.70)
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