25 September 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Some small volumes of fourth quarter contract negotiations are now starting to reach a conclusion in the European fatty alcohols market, sources said on Wednesday.
A producer said it has concluded some fourth quarter business this week, selling mid-cut alcohols for €1,330/tonne ex-tank Rotterdam.
Both suppliers and buyers note a minor decline in mid-cut fatty alcohol prices from last week, although the exact reason was not known.
Some lower offers were heard from producers in Asia, and it is thought by some participants that this could be driving the lower offers from European suppliers.
One buyer said it has received offers of between €1,350-1,370/tonne FD (free delivered) NWE (northwest Europe) for the fourth quarter, but was also hearing offers circulating in the market in excess of €1,400/tonne FD NWE.
“I will hold back from the market for a while longer, in the hope of even lower offers,” it added.
The wide disparity between buyer and seller ideals continues to deter some buyers from proceeding with their negotiations.
With mid-cut alcohol prices falling in Asia, many expect prices in Europe to eventually follow suit.
($1 = €0.74)
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