LONDON (ICIS)--European glycerine contract prices increased in the fourth quarter due to the continued tightness in the market for most of the last three months, according to sources on Thursday.
Refined vegetable glycerine contract prices were assessed at €1,050-1,150/tonne FD (free delivered) NWE (north-west Europe), up €200/tonne on the low end and €150/tonne on the high end.
Prices were seen below and above the range but the bulk of market feedback noted trade taking place within the above published range.
Refined tallow glycerine contracts were assessed up €100/tonne on the low end and €50/tonne on the high end at €750-850/tonne FD NWE.
Most contracts were negotiated early, with several market sources saying the uncertainty of spot prices throughout the quarter led buyers to settle contracts sooner than is typical in the market.