17 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Tight supply of crude glycerine and refined glycerine has prompted firmer spot pricing, according to sources on Wednesday.
Spot values for refined vegetable glycerine are assessed at €680-730/tonne ($895-961/tonne) FD (free delivered) NWE (northwest Europe), up by €10-20/tonne from last week.
Crude glycerine spot prices increased by €50/tonne on the high end of the range to €350-450/tonne FD NWE.
Low levels of biodiesel production in Europe have meant that less by-product crude glycerine is available for refining into vegetable glycerine.
“A lot of producers are sold out of refined vegetable glycerine,” one source said.
“It’s also hard to get crude glycerine. The market is likely to be difficult until September or October,” the source added.
($1 = €0.76)
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