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SunSirs: The Domestic Glycerol Market Remained Stable This Week (April 1-3)

April 07 2024 14:48:22     SunSirs (John)

Price trend

According to the monitoring system of SunSirs, on April 3rd, the benchmark price of glycerol in SunSirs was 4,487.00 RMB/ton, an increase of 1.4% from the beginning of the week. The market quotation was between 4,400-4,600 RMB/ton. Some enterprises increased by 200 RMB/ton.

Analysis review

Raw material side: According to monitoring by SunSirs, on April 2nd, the opening price of Y2405 contract for palm oil was 8,238 RMB/ton, with the latest quotation of 8,286 RMB/ton, an increase of 46 RMB/ton, a maximum of 8,356 RMB/ton, and a minimum of 8,286 RMB/ton. As of April 2nd, the benchmark price of palm oil in SunSirs was 8,480.00 RMB/ton, an increase of 2.91% compared to the beginning of this month (8,240.00 RMB/ton).

The downstream market for ECH was weak, with weak demand.

Market outlook

According to glycerol data analysts from SunSirs, the upstream cost side supported at high levels, the domestic glycerol market demand was weak, and downstream rigid demand procurement was in a game state. It is expected that the glycerol market will have limited growth in the near future and maintain stable operation. More information needs to be paid attention to market guidance.

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