Europe glycerine under downward pressure on improved supply
03 October 2013 11:03 [Source: ICIS news]
LONDON (ICIS)--European glycerine values remain under slight downward pressure this week as supply has improved following higher levels of biodiesel production, sources said late on Wednesday.
While crude glycerine values are assessed stable at €275-340/tonne ($372-459/tonne) FD (free delivered) NWE (northwest Europe), sources say that spot trades are taking place below €300/tonne FD NWE more regularly. “There’s a lot of glycerine available from biodiesel production. Tanks are quite full for crude and refined. Producers are dropping glycerine on the market at ridiculous prices,” one source said.
Spot refined vegetable glycerine values were assessed softer by €5/tonne at the high end of the ICIS range to €630-680/tonne FD NWE.
Another source said: “There’s a lot of product available. Capacities are running well and demand could be higher.”
Crude glycerine is a by-product of biodiesel production and can be refined to higher levels of purity.
($1 = €0.74)By: Sarah Trinder+44 20 8652 3214
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