08 March 2010 09:48 [Source: ICIS news]
(recasts second paragraph, adds third paragraph)
KUALA LUMPUR (ICIS news)--Asian glycerine prices may rise in the coming months due to tight supply, with regional producers having no more cargoes to sell in the first quarter, industry sources said on Monday.
Upcoming maintenance at some oleochemical plants in Malaysia was adding to the supply squeeze, they said, ahead of the the Palm & Lauric Oils Conference and Exhibition: Price Outlook 2010/2011 in Kuala Lumpur.
The conference will run from 9-10 March.
Refined glycerine prices were at $600-620/tonne (€438-453/tonne) FOB (free on board) SE (southeast) Asia on 3 March, crude glycerine were at $250-280/tonne CIF (cost, insurance and freight) China, according to global chemical market intelligence service ICIS pricing.
Scarce supply applies to both types of glycerine, market sources said, adding that some producers could be deliberately withholding supply to drive up prices.
South America, the largest supplier of glycerine in the world, had sold out cargoes for the first quarter and early second quarter, industry sources said.
($1 = €0.73)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections