19 August 2011 10:00 [Source: ICIS news]
SHANGHAI (ICIS)--China’s Futai Glycerine has restarted its 15,000 tonne/year glycerine refinery plant at Qingyuan city in south China early this week as prices of crude glycerine rise, a company source said on Friday.
The producer had shut the plant on 13 July because of weak demand at that time.
“We supplied mainly the regular customers to reduce our storage in the past one month,” the source said.
The prices of upstream crude glycerine have been rising over the last six weeks because of the short supply in South America, which is a key export region.
Crude glycerine producers in South America have been exporting their material to Europe and other regions where biodiesel activity has increased.
Crude glycerine prices have increased to $345/tonne (€242/tonne) CIF (cost, insurance & freight) CMP (China Main Port) on 19 August, according to data from Chemease, an ICIS service.
This has caused the prices of 95% and 99.5% glycerine to rise as well.
The prices of 95% glycerine increased by yuan (CNY) 400-500/tonne ($63-78/tonne) to CNY4,500-4,700/tonne, while the prices of 99.5% glycerine rose by CNY400/tonne to CNY 4,800-5,000/tonne on 18 August, according to data from Chemease, an ICIS service in China.
Crude glycerine is used to produce 95% and 99.5% glycerine.
($1 = €0.70, $1 = CNY6.39)
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