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