SunSirs: Glycine Market Fell Slightly in January
January 29 2022 12:14:58 SunSirs (John)
Price trend
According to the data of SunSirs’ bulk list, the domestic glycine price was firm in January and fell slightly. The average price of industrial-grade glycine at the beginning of the month was 35,000 yuan/ton, and the average price at the end of the month was 34,666 yuan/ton, a decrease of 0.95%.
Analysis review
According to the price chart of SunSirs, the overall glycine market did not change much in January, the supply and demand in the market were stable, the overall construction of the industry remained at around 60-70%, the price of upstream raw materials fell, and the price of glycine fell slightly. The overall demand was relatively stable, and downstream purchases were still dominated by glyphosate. Near the end of the year, both purchases and sales are sluggish, corporate inventories are low, and some downstream businesses are closed for holidays. The demand is further weakened, but the price of glycine is relatively strong.
In terms of demand: the price of glyphosate in the downstream were corrected, and the price of glyphosate technical drug dropped to around 75,000 yuan / ton. The market demand has weakened, but the confidence of the industry has not diminished. According to the market reaction, glyphosate enterprises have sufficient orders, and the spring ploughing will start after the year, and the price is expected to rise further.
Market outlook
The glycine analyst of SunSirs believes that, on the whole, the glycine market is mainly constrained by the downstream glyphosate market, the price of glyphosate is still high, and the demand continues to follow up. It is expected that the price of glycine will remain stable but with some small changes after the Spring Festival.
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