Europe white spirit prices ease on falling feedstock costs

22 March 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Prices for the solvent white spirit have eased this week following significant decreases in the cost of feedstock jet kerosene, sources said on Friday.

Jet kerosene barge prices have fallen by $130.25/tonne (€100.29/tonne) since 1 February this year, with white spirit prices easing accordingly.

White spirit was at $1,000-1,020/tonne FOB (free on board) Rotterdam this week, a $50/tonne decrease on last week’s price.

However, lower prices were not stimulating demand, with a number of participants out of the market this week at industry events and many buyers holding off until after Easter.

A distributor said much of the year’s price direction will hinge on the second quarter of the year as a marker for demand.

Sources also noted that shifting exchange rates were having an impact on pricing.

In the UK market, prices have held steady despite the feedstock decreases, with producers said to be keen to hold onto margins.

However, sources agreed that the downward pressure from feedstock prices would likely result in decreases in the UK market in April.

($1 = €0.77)

By: Kate Wilcock
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly