26 August 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--Spot prices of tallow-grade glycerine in the northwest European market have fallen by €20/tonne ($29/tonne) on weak demand, market sources said on Wednesday.
Consumers and suppliers reported spot deals under €300/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Tallow spot prices were assessed at €280-310/tonne FD NWE, while UK spot prices decreased by £15/tonne ($25/tonne) on the top end as the price range was assessed at £245-270/tonne FD UK, according to global chemical market intelligence service ICIS pricing.
Most buyers would return to the spot market in September after the August holiday period, and, while activity would increase, pricing patterns were unlikely to alter, a trader said.
Uses for glycerine include adhesives, paints and resins as well as toiletries, food emulsifiers and cosmetics.
($1 = €0.70/$1 = £0.61)
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