30 September 2009 23:59 [Source: ICIS news]
LONDON (ICIS news)--European fourth-quarter refined vegetable and tallow glycerine contract settlements were agreed up to €100/tonne ($145/tonne) lower than third-quarter prices due to weak demand and long market conditions, buyers and sellers said on Wednesday.
Prices were reported at €260-310/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Vegetable-grade material was settled at levels of €300-340/tonne FD NWE, sources said.
Vegetable material was assessed at £270-310/tonne FD
Sources agreed that demand was poor and that the market was long, which was reflected by the falling prices.
There was a lot of material available and while some technical grades had seen some price growth over recent weeks the glycerine market as a whole was very weak, one producer said.
Uses for glycerine include adhesives, paints and resins as well as toiletries, food emulsifiers and cosmetics.
($1 = €0.69/$1 = £0.63)
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