24 January 2013 10:34 [Source: ICIS news]
LONDON (ICIS)--European T2 fuel ethanol values firmed late on Wednesday, despite quiet market conditions.
Prices are assessed at €625-640/cbm ($833-853/cbm) FOB (free on board) Rotterdam, up by €10/cbm on the high end of the range week on week.
Some sources say that prices have increased because Spanish producer Abengoa Bioenergy's 127m gallon/year fuel ethanol plant in Rotterdam remains shut, limiting market supply. The plant was shut in December 2012 for three months for environmental improvements.
In addition, high corn values in the US have meant that US fuel ethanol prices have remained firm, and some sources say that this has also been a contributory factor to higher European values.
($1 = €0.75)
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