SunSirs: The Domestic Glycerol Market Was Stable This Week (March 11-14)
March 15 2024 16:07:18 SunSirs (John)
Price trend
According to the monitoring system of SunSirs, on March 14th, the benchmark price of glycerol in SunSirs was 4,387.50 RMB/ton, an increase of 4.46% compared to the beginning of this month (4,200.00 RMB/ton). As of March 14th, the reference price for industrial grade 99.5% glycerol in the domestic market was around 4,300-4,590/ton.
Analysis review
Raw material side: According to the monitoring system of SunSirs, palm oil rose in the morning on March 14th. The opening price of Y2405 contract for palm oil was 7,942 RMB/ton, with the latest quotation of 7,976 RMB/ton, an increase of 122 RMB/ton, a maximum of 7,982 RMB/ton, and a minimum of 7,918 RMB/ton. Compared to the beginning of this month, it had increased by 5.08%.
The downstream ECH market saw a decline in prices this week. According to the monitoring system of SunSirs, as of March 14th, the benchmark price of ECH in SunSirs was 8,075.00 RMB/ton, a decrease of 0.92% compared to the beginning of this week (8,150.00 RMB/ton). The market demand was light, and the purchasing sentiment was not positive.
Market outlook
According to glycerol data analysts from SunSirs, the domestic glycerol market had weak demand, and downstream purchases were in demand. It is expected that the market price of industrial grade 99.5% glycerol will operate steadily, with a reference price of about 4,300-4,590/ton. For more information, please pay attention to external news and market guidance.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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