10 October 2013 10:55 [Source: ICIS news]
LONDON (ICIS)--European T2 fuel ethanol values firmed slightly, following weeks of price volatility, according to ICIS data on Thursday.
T2 prices were assessed up at €583-585/cbm ($788-791/cbm) FOB (free on board) Rotterdam, compared with €572-580/cbm FOB Rotterdam the week previously.
Sources attributed firmer values to healthy buying activity from a producer during open market trading.
“[Company name] is the only driver in the market,” one source said.
“[Company name] is still buying volumes – this is the only support in the market,” another source said.
The volatility of the market continues to be bemoaned by participants, who say that it is now possible to move prices up or down by €90/cbm a day following changes made to open market trading guidelines.
“Prices are very sensitive to market changes now. The market is living its own life,” one source said.
“Nobody is taking positions as they don’t know what will happen next. The market has decoupled from real economic ideas,” another source said.
($1 = €0.74)
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