21 November 2012 19:46 [Source: ICIS news]
HOUSTON (ICIS)--First-quarter contract discussions are beginning to emerge in the US refined glycerine market, sellers said on Wednesday.
“A few negotiations are beginning,” one seller said.
Several refined glycerine producers expect contracts to move up on tightening supply, while others maintain that a rollover from the fourth quarter is possible.
At least one market participant acknowledged that some large buyers are seeking to secure first-quarter volumes earlier than typically take place.
Players discussing tighter supply of refined product say there are pockets of increasing demand in certain applications ranging from industrial end-use areas to new end-uses in the engine coolant sector.
Vegetable refined glycerine, fully certified as USP by US agencies, is assessed in the fourth quarter at 42-49 cents/lb ($926-1,080/tonne, €722-843/tonne) FOB midwest for small to medium volumes.
Tallow-based refined glycerine contracts, on the same certification basis, are assessed at 40.50-48.50 cents/lb, same basis location and volume.
Refined glycerine suppliers no longer announce price changes, preferring to negotiate on an account-by-account basis.
US refined glycerine suppliers include Procter & Gamble, Vantage Oleochemical, Emery Oleochemical, Twin Rivers Technology and Peter Cremer North America...
Major importers include Wilmar, Acme-Hardesty and several trading groups.
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