European refined vegetable glycerine softer on talk of better supply

22 August 2013 11:15  [Source: ICIS news]

LONDON (ICIS)--Spot European refined vegetable glycerine values decreased by €30/tonne on the low end of the range late on Wednesday, amid talk of improved supply.

Values were assessed at €650-730/tonne ($867-973/tonne) FD (free delivered) NWE (northwest Europe) to demonstrate the lower numbers heard.

“I had meetings with two producers and one was concerned I had ordered less product during August. This is clear confirmation that the market is not as tight as some people say,” a buyer said.

“I was offered product for just above €600/tonne FD NWE and the producer said they would give me a discount of €50-100/tonne on this price if I ordered larger quantities,” it added.

“Demand really isn’t that strong at the moment and I expect price decreases for the fourth quarter,” the buyer said.

“I had heard rumours of prices in the high €500s/tonne ex works but didn’t get this value confirmed,” one producer said.

“Prices in the low €600s/tonne FD [NWE] could be available if producers are under pressure,” one distributor said.

($1 = €0.75)

By: Sarah Trinder
+44 20 8652 3214

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