Europe Q2 glycerine contracts decrease significantly amid low demand

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)

By: Sarah Trinder
+44 20 8652 3214

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