Used cooking oil (UCO) traded as low as 39.5 cts/lb into the Gulf market with bids and offers heard in a wide range over the last 24 hours. Offers were heard as high as 42 cts/lb del Gulf for March, with the low side of bids reported at 39 cts.
Tallow bids and offers were reported in a 4.5 spread this morning before trading was done this afternoon at 41 cts/lb delivered for March and April shipment.
Trading into the interior was quiet today, but sources have reported strong demand from the domestic oleochemical sector. As discussed in previous reports, the discount of US tallow to palm and palm stearin have pushed more demand into the tallow-derived chemical market.
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Fastmarkets' research team...