Recently, the domestic glycerol market prices have remained stable. According to the monitoring system of Shengyishe, as of April 10th, the benchmark price of glycerol in Shengyishe was 4500.00 yuan/ton, an increase of 1.41% compared to the beginning of this month (4437.50 yuan/ton). At present, the reference price for industrial grade 99.5% glycerol in the domestic market is around 4400-4600 yuan/ton.
On the raw material side, after the Qingming Festival, the price of CBOT soybean futures in the external market rose moderately, with an estimated increase in Malay palm oil production and a decrease in futures prices. The boosting effect of the external futures market was limited, and the soybean oil palm oil market continued to decline. The demand for terminal catering is stable, with high inventories of soybean oil and palm oil. Multiple bearish factors have suppressed the weak spot market of soybean oil and palm oil. According to the monitoring of Business Society, the benchmark price of palm oil in Business Society is 8440.00 yuan/ton, an increase of 2.43% compared to the beginning of this month (8240.00 yuan/ton). The inventory of crude glycerol abroad is relatively low, and the quoted price is firm. Overall, the high support for raw material prices is relatively stable.
Downstream end: The market for epichlorohydrin is weak, with slow demand growth and no positive news at the moment.
Post forecast: According to the glycerol data analyst from Business Society, the raw material soybean oil palm oil is being suppressed by multiple negative factors, and the price trend is weak and downward. However, the inventory of crude glycerol in the external market is low, and the price is strong at a high level. Domestic refining enterprises are under pressure on procurement costs, and they are mostly wait-and-see. In addition, the downstream chlorine market is weak and demand is 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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