11 June 2009 04:48 [Source: ICIS news]
By Anu Agarwal
SINGAPORE (ICIS news)--Asian ethanol prices were expected to firm in the coming months on the back of rising offers from Brazil and generally snug regional supply, buyers and traders said on Thursday.
Ethanol offers from ?xml:namespace>
This had resulted in offers for ANP hydrous ethanol going up to $360-370/cbm Free on Board (FOB) (€259-266/cbm)
"Offers for B-grade hydrous ethanol are close to $380/cbm FOB
B-grade ethanol is used for making beverage alcohol in
Although most large buyers in northeast
This may have been because prompt supply is tight and there are not many options for Asian buyers, said other traders.
Other buyers were still holding out for $450-460/cbm CFR Korea for Q3 arrivals although no fixtures were heard.
Ethanol prices in
However, with the recent sharp currency fluctuations, as well as surging energy complex values, prices have reversed the trend.
“I believe that ethanol prices might tough $500/cbm CFR Asia in the coming weeks,” said a northeast Asian ethanol trader.
Meanwhile, Asian sources of ethanol like
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