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SunSirs: The Domestic Glycerol Market Had Been Operating Steadily This Week (April 15-18)

April 22 2024 10:14:14     SunSirs (John)

Price trend

On April 18th, the domestic glycerol market prices remained stable. According to the data monitoring system of SunSirs, as of April 18th, the benchmark price of glycerol in SunSirs was 4,500.00 RMB/ton, an increase of 1.41% compared to the beginning of this month (4,437.50 RMB/ton).

Analysis review

On the raw material side, multiple bearish factors suppressed the oscillation and decline of the palm oil market. The production of Malay palm oil in the external market was in a recovery period, and the futures price had fallen. The demand for many domestic catering products was sluggish, and the market for substitute soybean oil continued to decline. The bearish sentiment suppressed, and the palm oil market was constantly falling, falling to 8,000 RMB/ton. According to the monitoring of SunSirs, on April 18th, the benchmark price of palm oil in SunSirs was 8,038.00 RMB/ton, a decrease of 2.45% 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 raw material soybean oil and palm oil market was oscillating and falling, and enterprises were mostly wait-and-see. In addition, the downstream chlorine market was weak and demand was sluggish. In the near future, domestic glycerol prices may remain stable, and more information needs to be paid attention to market guidance.

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