Asia soap noodles traded higher on firmer feedstock prices

SINGAPORE (ICIS)–Some offers and deals for soap noodles in Asia were heard higher as a result of firmer feedstock prices, market sources said on Tuesday.

Some deals were heard at $880-890/tonne FOB (free on board) SE (southeast) Asia, while most offers were heard at $840/tonne FOB SE Asia and above.

Some suppliers have increased their offers due to firmer palm oil and caustic soda prices.

Palm oil prices have maintained a general uptrend over the last few weeks.

However, some suppliers were still under pressure to sell their stock before the lull winter season begins, according to some market participants.

With increasing raw material prices, some suppliers said there was limited room for them to lower their offers even if demand remained sluggish.

Last week, Asia’s soap noodles prices were assessed as $820-860/tonne FOB SE Asia.