17 July 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Further third-quarter contract negotiations were concluded in the European fatty alcohols market this week, sources said on Wednesday.
Mid-cut material was trading at €1,250-1,350/tonne ($1,645-1,776) FD (free delivered) NWE (northwest Europe), according to market participants.
One supplier said it has now reached a conclusion with all of its major consumers.
With prices in Asia remaining at high levels, upward pressure continues to be placed on fatty alcohol prices in Europe.
“I don’t expect prices to decline during the third quarter; only during the fourth quarter at the earliest,” the supplier said.
A buyer agreed with this sentiment, because of capacities in China facing further start-up delays.
“I’m not convinced the tightness of fatty alcohol material will be alleviated during the third quarter,” it said.
The buyer said it has also purchased mid-cut material for the entire third quarter as a result.
($1 = €0.76)
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