NE Asian hydrous ethanol prices drop on deal done amid weak trade

09 August 2012 07:51  [Source: ICIS news]

SINGAPORE (ICIS)--Import prices of B-grade ethanol to northeast Asia dropped during the week ended 8 August on the back of a deal concluded amid weak trade, market players said on Thursday.

Prices to Ulsan, South Korea dropped by $10/tonne (€8/tonne) at the low end of the range to $650-700/tonne CFR (cost & freight) northeast (NE) Asia, according to data from ICIS.

A sole deal for 2,000 cbm (cubic metres) of B-grade ethanol was concluded at $654/tonne CFR NE Asia for shipment in the second half of October. No other transactions were heard during the week.

However, trade for most of the market remained weak as Japanese and South Korean end-users are covered with material until the end of the year.

“Customers are not making enquiries because they have ample inventories until the end of this year. In addition, some traders are still holding long positions at Ulsan, which is the trading port for our region,” a Japanese trader said.

($1 = €0.81)

By: Andrea Heng
+65 6780 4359

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