11 May 2011 22:30 [Source: ICIS news]
HOUSTON (ICIS)--US stearic tallow fatty acid contracts moved up in April on higher averages in feedstock bleachable fancy tallow (BFT), according to buyers and sellers on Wednesday.
Triple-pressed stearic acid (TPSA) contracts were assessed at 71-76 cents/lb ($1,565-1,675/tonne, €1,080-1,156/tonne) bulk delivered for April business, increasing 5-6 cents/lb from the March assessment.
Rubber-grade (RBG) stearic acid contracts were assessed at 65-71 cents/lb in April business, up 7-10 cents/lb from March business levels.
US tallow-derived fatty acid contracts are typically assessed on a monthly lag basis because most producers use an average of the active month’s BFT values, with calculations on that average available after the close of the applicable month.
In April, BFT averaged 51.6 cents/lb, up from the high-40s average in March, sources said.
May contracts for tallow-based stearic acids were displaying early upward considerations because of strength in the BFT prices.
On Wednesday, BFT prices in the Chicago cash markets closed at 52.50 cents/lb for the second day, up 0.50 cent/lb.
At the same time last year, BFT closed at 34.00 cents/lb in Chicago’s cash market.
($1 = €0.69)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections