15 April 2013 12:23 [Source: ICIS news]
SINGAPORE (ICIS)--Southeast Asia’s soap noodle prices were largely stable despite volatile raw material prices in the region on the back of slow demand, sources said on Monday.
Prices of standard 80/20 blend soap noodles containing total fatty matter (TFM) of 78% were assessed $10/tonne (€7.60/tonne) firmer at the high end of the range at $820-850/tonne FOB (free on board) southeast (SE) Asia for the week ended 12 April, according to ICIS.
Some SE Asian producers were eyeing higher values on the back of firmer major feedstock, crude palm oil (CPO) prices, for the week ended 12 April.
CPO prices for April rose week on week by Malaysian ringgit (M$)10/tonne from M$2,340/tonne ($770/tonne) DEL (delivered) south Malaysia to M$2,350/tonne DEL south Malaysia for the week ended 12 April. Today, the CPO price was at M$2,330/tonne DEL south Malaysia.
Despite volatility in feedstock costs, soap noodle prices remain fairly stable as demand for finished product – soap bars – was not picking up significantly despite the onset of the seasonal peak in demand in several Asian regions, which is typically ahead of the summer months in the middle of the year.
Selling ideas of May shipment products from several SE Asian producers were at $825-860/tonne FOB SE Asia against buying ideas at $800-820/tonne FOB SE Asia.
($1 = €0.76, $1 = M$3.04)
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