29 March 2011 16:56 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS)--Improved demand is the primary driver for rising second-quarter contracts for US refined glycerine, sources said on Tuesday, as many contracts are settling at the International Petrochemical Conference (IPC).
“We’ve moved contracts up in all accounts,” one seller said.
“Crude glycerine is still tight, and demand is very good,” another supplier said
Buyers confirmed refined glycerine contracts were up in the second quarter, with firming US demand in food and industrial applications pushing the upward hike.
Refined glycerine producers did not make formal price announcements for the second-quarter contracts, preferring to move prices on an account-by-account basis.
Second-quarter vegetable-grade glycerine contracts were expected to move up 2-5 cents/lb ($44-110/tonne, €31-78/tonne) free on board (FOB) midwest.
First-quarter contracts for vegetable-derived refined glycerine were assessed at 36-44 cent/lb, FOB midwest, with tallow-grade material at 34-43 cents/lb same basis.
Refined glycerine end-uses include food and pharmaceutical applications as well as numerous industrial uses such as household cleaning agents.
Producers include Procter & Gamble, Dial, Vantage Oleochemical and Emery Oleochemical.
Hosted by the National Petrochemcial & Refiners Association (NPRA), the IPC continues through Tuesday.
($1 = €0.71)
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