Price trend

The overall domestic glycerol market slightly declined in May. According to the data monitoring system of SunSirs, as of May 31, the benchmark price of glycerol in SunSirs was 4,287.50 RMB/ton, a decrease of 0.87% compared to the beginning of this month (4,325.00 RMB/ton).

Analysis review

The price of soybean oil and palm oil rose in May with mixed trends. The soybean oil market was rising, while the palm oil market was falling. On May 1st, the average price of soybean oil in the market was 8,120 RMB/ton. On May 30th, the average price of soybean oil in the market was 8,120 RMB/ton, an increase of 3.67%. On May 1st, the average price of palm oil in the market was 7,960 RMB/ton. On May 30th, the average price of palm oil in the market was 7,940 RMB/ton, a decrease of 0.25%. There was not much quantity in the external market, domestic demand was weak, and downstream procurement atmosphere was not strong. Under the dual pressure, the price of glycerol in the market had slightly declined. As of May 31st, the market trading volume was insufficient and orders were limited, with a focus on wait-and-see.

According to the monitoring of SunSirs, on May 31st, the benchmark price of palm oil in SunSirs was 7,940.00 RMB/ton, a decrease of 0.25% compared to the beginning of this month (7,960.00 RMB/ton).

In terms of import and export: According to data released by the General Administration of Customs of China, the total import volume of glycerol in April 2024 was 61,539.134 tons, a decrease of 15.3% compared to the previous month; The total export volume of glycerol (glycerol) was 478.894 tons, an increase of 25.6% compared to the previous period.

Market outlook

According to glycerol data analysts from SunSirs, downstream demand was cold and procurement was not active, and weak performance may continue in June. For more information, please pay attention to the dynamics of external quotation and market guidance.

If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.