11 May 2011 22:12 [Source: ICIS news]
HOUSTON (ICIS)--US refined glycerine contract prices rolled over from April to May in stable fundamentals, buyers and sellers said on Wednesday.
Vegetable-derived refined glycerine contracts were assessed at 38-47 cents/lb ($838-1,036/tonne, €578-715/tonne) for May business, with tallow-based contracts assessed at 36-45 cents/lb.
Steady supply/demand fundamentals characterised April/May business, which fostered the rollover, sources said.
Demand from food and industrial applications was healthy in April, and market participants said May business was tracking that of April.
Refined glycerine spot business was thin, reflecting the firm contract tier.
Tallow-based refined glycerine spot was last assessed at 40-42 cents/lb, with veg-based at 42-45 cents/lb, both on FOB (free on board) midwest basis.
($1 = €0.69)
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