10 April 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European Q2 glycerine contract prices have recorded large decreases as a result of low demand and improved supply, according to sources on Wednesday.
Refined vegetable glycerine Q2 contracts settled at €600-650/tonne ($789-855/tonne) FD (free delivered) NWE (northwest Europe), down €130/tonne from the previous quarter.
Elsewhere, Q2 tallow glycerine contract values settled at €570-600/tonne FD NWE, down €130-150/tonne.
Sources said the market is hard to gauge, and that this uncertainty is deterring buying activity – and in turn exerting downward pressure on values.
“There’s still a lot of uncertainty out there and it’s making the market more hesitant. It’s hard to make decisions,” one source said.
“Production levels are still quite high,” another source said.
($1 = €0.76)
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