Argus launches Chinese UCO and UCOME export price reporting

January 31, 2018 |

In Singapore, surging exports of used cooking oil (UCO) and UCO methyl ester (UCOME) from China to Europe have led to a need for greater market transparency. Leading global energy and commodity news and price reporting agency Argus has responded by launching price assessments today for these products, which are used as biodiesel.

The new assessments reflect market prices for UCO and UCOME loaded from Shanghai, Suzhou and Huangpu and shipped to Europe. The assessments are calculated using a market-appropriate methodology that is fully compliant with the Iosco Principles for Price Reporting Agencies.

Chinese exports of UCO and UCOME to the European biodiesel market are soaring. Around 42,000 metric tons of Chinese UCO was shipped to Europe between January and October 2017, up from 7,000 tons a year earlier. UCOME exports from China to Europe jumped from less than 8,000 tons in 2015 to 36,000 tons in 2016, and surged to more than 150,000 tons in the first 10 months of last year.

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