13 January 2012 23:59 [Source: ICIS news]
LONDON (ICIS)--First-quarter contract prices for traditional ethanol in Europe were little changed from the fourth quarter of 2011, market participants said on Friday, with price changes not exceeding €1/hl (hectolitre) in the majority of cases.
The mildly bullish trend heard on 96% beverage grade in recent weeks was confirmed, as sources said that nearly all of their first-quarter contracts had been concluded either at a rollover or an increase of €1/hl.
Domestic price ranges for France and Germany were assessed up by ICIS by €1/hl at the high end, while Italy was up by €1–2/hl overall.
French prices were assessed at €77–80/hl ($99–103/hl) FD (free delivered) NWE (northwest Europe), German prices at €79–82/hl FD NWE and Italian prices at €83–86/hl FD NWE.
Most first-quarter contracts for 99% industrial grade were settled at a rollover or a slight decrease, sources said, which was also in line with previous market indications.
Domestic price ranges were assessed down by €1/hl at the high end for France and Germany, and £10/tonne (€12/tonne) down overall for the UK. Italian prices were heard mostly unchanged.
French and German prices were assessed at €80–83/hl FD NWE, Italian prices at €87–89/hl FD NWE and UK prices at £880–920/tonne FD NWE.
Demand was described as stable-to-weak, although this was widely attributed to many participants not having returned from their Christmas and New Year holidays until early this week.
A more active market is likely to emerge in the second half of the month.
($1 = €0.78, €1 = £0.84)
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