16 October 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--Greater numbers of Q4 contract negotiations have reached conclusions in the European fatty alcohols market, sources said on Wednesday.
Although some buyers state they have now purchased their requirements for the remainder of the year, others say they still prefer to hold off from concluding their negotiations a while longer.
One buyer said it paid €1,300-1,320/tonne ($1,757-1,784/tonne) FD (free delivered) NWE (northwest Europe) for mid-cut fatty alcohols for the fourth quarter, although it added that it has not purchased as much as it usually would as it expects prices could come down further in December.
The buyer expects extra fatty alcohols to arrive from Asia in December, placing further downward pressure on prices.
“I will purchase further volumes during December if need be,” the buyer said.
Another buyer also confirmed this week that it had concluded its Q4 negotiations, and paid €1,360/tonne FD NWE for mid-cut fatty alcohols.
Outstanding negotiations are expected to be finalised during the coming weeks.
($1 = €0.74)
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