17 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--European T2 fuel ethanol values decreased by €19-20/cbm ($25-26/cbm) this week, due in part to healthy supply levels, sources said on Wednesday.
According to ICIS data, T2 prices are assessed at €620-631/cbm (cubic metre) FOB (free on board) Rotterdam.
There is consensus among sources that the market is well-supplied at present and buying interest is not high enough to absorb supply, despite increased demand with the onset of the summer driving season,
Furthermore, imports from Central and South America continue to enter the European market.
“Europe is getting around 15,000 cbm of fuel ethanol every six weeks, from Peru,” one source said.
($1 = €0.76)
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