Europe crude glycerine down €10/tonne on weak demand

26 August 2009 17:59  [Source: ICIS news]

LONDON (ICIS news)--Crude glycerine spot prices have decreased by €10/tonne ($14/tonne) due to a lack of buyers, producers and traders said on Wednesday.

One trader reported receiving offers in the central European region at €75/tonne FD (free delivered) based on an ex-works (EXW) figure of €60/tonne.

“I will not pay any more than €80/tonne EXW, and I have already rejected an offer for 1,000 tonnes at €90/tonne EXW this month,” the source said.

A trader in northwest Europe said that technical-grade crude glycerine was available at €80/tonne FD NWE (northwest Europe), although a few large producers disputed that product could be purchased at those levels.

Crude-glycerine price levels were assessed at €90-120/tonne FD NWE, according to global chemical market intelligence service ICIS pricing.

($1 = €0.70)

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By: Dan Horlock
44 20 8652 3214

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