16 October 2013 12:37 [Source: ICIS news]
Market sentiment on price decreases is mixed. Although sources agreed that prices are coming down, the workable level is still debatable.
“The stable-to-firm demand in fourth quarter should be holding up the prices, not pulling it down”, commented a trader in Singapore.
However, a distributor in China said: “we need to lower prices to gain some market share because local market price is so difficult to catch”.
Spot refined glycerine values were assessed softer by $20/tonne at the low end of the ICIS range to $930-980/tonne FOB (free on board) SE Asia.
“There is ample glycerine [supply] from biodiesel production. Producers are offering glycerine on the market at lower prices,” one source said.
“Sellers are literally knocking at our door to give us glycerine, you won’t believe the ridiculous prices they give,” said another.
Crude glycerine is a by-product of biodiesel production and can be refined to higher levels of purity.
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