The European glycerine markets are quiet this week with most sources attributing this to the summer holiday season.
Availability is described as healthy, although some sources believe there are fewer imports arriving in the European market.
One says there are no refined glycerine cargoes arriving in Europe from Asia as the Asian market has become tight.
In fact, Asian producers are currently only offering product for September and this has caused prices for refined glycerine in Asia to firm by $40/tonne.
The source believes that fewer cargoes from Asia, and the higher prices in the region, will lead to firmer refined glycerine prices in Europe.
Sources in Europe have quoted differing prices for vegetable glycerine this week.
One buyer says it was offered a large amount of material in the low €400s/tonne FD NWE.
Furthermore, one trader says prices are between €470-520/tonne FD NWE at the most.
However, another buyer says it has not witnessed prices as low as €470/tonne FD NWE in the market.
One producer has also said that prices are at €499/tonne FD NWE at the lowest.
Others, however, believe that the market will remain stable for the meantime while activity remains quiet.
The price range for vegetable glycerine remains unchanged at €480-530/tonne FD NWE.
Crude glycerine supply remains healthy, with sources disputing previous reports that kosher grade crude glycerine is trading at €330/tonne FD NWE.
Sources say that imports from South America continue to arrive in the European market, contributing to healthy availability. One source says that the material is trading at prices just over $230-260/tonne (€160-185/tonne) FD NWE but this could not be confirmed elsewhere.
The range for crude glycerine remains unchanged at €190-270/tonne FD NWE.
In Asia, crude glycerine prices have strengthened due to firmer selling ideas. Prices are assessed to be between $280-300/tonne CIF CMP, marking an increase of $20-25/tonne.
($1=€0.70)
This week on ICIS news ( www.icis.com ):
29/07/11 US tallow prices fall on lower demand from biodiesel – traders
29/07/11 China’s Jiangxi Global Chemical to start up ECH plant in September
28/07/11 US Bunge looks for strong second half on biofuels, fertilizers
27/07/11 Europe palm fatty acids price falls boost tallow buyers' interest
27/07/11 Sud-Chemie halves biofuel pilot plant capacity
