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SunSirs: This Week, the Domestic Glycerol Market Prices Remained Weak and Stable (May 6-10)

Time:2024-05-15

This week, the domestic glycerol market prices remained weak and stable. According to the data monitoring system of SunSirs, as of May 10th, the benchmark price of glycerol in SunSirs was 4,275.00 RMB/ton, a decrease of 1.16% compared to the beginning of this month (4,325.00 RMB/ton).

  Analysis review

  In terms of raw materials, the market price of palm oil has declined. On May 10th, the main palm oil futures contract P2409 of Dalian Commodity Exchange (DCE) was opened at 7,382 RMB/ton as of 9:01, with the latest price of 7,350 RMB/ton, a decrease of 88 RMB/ton, a maximum of 7,422 RMB/ton, a minimum of 7,336 RMB/ton, and a closing of 7,438 RMB/ton the previous day. According to data from SunSirs, as of May 10th, the benchmark price of palm oil in SunSirs was 7,880.00 RMB/ton, a decrease of 1.01% compared to the beginning of this month (7,960.00 RMB/ton).

  On the external side, the price of glycerol has slightly declined, coupled with weak demand for ECH downstream in China and a weak purchasing atmosphere, resulting in a slight decline in the domestic glycerol market price. As of May 10th, the market trading volume was insufficient and orders were limited, with a focus on wait-and-see.

  Market outlook

  According to glycerol data analysts from SunSirs, the market for raw palm oil has declined, downstream demand was cold, and procurement was not active. Domestic glycerol will operate weakly and steadily in the near future. For more information, please pay attention to the dynamics of external quotation and market guidance.

From:SunSirs