Supply length exerts downward pressure on European crude glycerine

12 December 2013 10:43 Source:ICIS News

LONDON (ICIS)--Spot European crude glycerine values have decreased at the high end of the ICIS range on lengthy supply, according to sources late on Wednesday.

Prices were assessed at €220-290/tonne ($301-397/tonne) FD (free delivered) NWE (northwest Europe), down by €20/tonne at the high end of the range from the previous week.

“€300/tonne FD for 80% crude glycerine is impossible. There’s still some surplus product around and it’s outpacing demand,” one source said.

“Low prices for EU material means there are several companies exporting to China,” another source said.

($1 = €0.73)

By Sarah Trinder