05 September 2011 08:47 [Source: ICIS news]
“[The domestic] crude glycerine prices are rising and likely to hit the $400/tonne (€280/tonne) CIF (cost, insurance & freight) CMP (China Main Port) level by the end of September,” a Chinese trader said.
“Material availability is scarce and increased demand is fuelling price hikes,” a Chinese buyer added.
The supply of crude glycerine in
Crude glycerine is a by-product of biodiesel production, the traders added.
Another reason for the surge in demand for crude glycerine is new applications of the material, such as epicholrohydrin (ECH), in
“[The production of] ECH in
In addition, good quality crude glycerine from South America is increasingly scarce as most cargoes of the product have already been booked for the end of the year and are bound for
The prices of crude glycerine were assessed at $330-350/tonne CIF CMP on 5 September, which is up by $10/tonne from the same period last week.
($1 = €0.70)
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