Recent Market Dynamics of Glycerin (CAS#56-81-5) and Veg Glycerin

Market Overview:The market for glycerin, also known as glycerine (CAS#56-81-5), and veg glycerin has experienced significant price fluctuations in recent weeks. This press release provides an overview of the latest market trends and price movements for these key chemicals, which are widely used in various industries including pharmaceuticals, cosmetics, food, and renewable energy.

Price Volatility:

• Recent quotes from manufacturers indicate a substantial price swing, with a quote of 3,500 CNY/ton on December 3rd, followed by a higher quote of 4,600 CNY/ton on December 1st.

• As of October 15, 2024, the domestic market price for 95% glycerin has reached 5,500 CNY/ton, marking a 42.86% increase from the beginning of the year.

• The market prices for 95% and 99.5% glycerin have stabilized at 5,550 CNY/ton and 5,850 CNY/ton, respectively, with no change from the previous day.

Market Analysis:

• The 2024 market trend for glycerin and veg glycerin has shown an overall upward trajectory, albeit with certain fluctuations and uncertainties.

• Prices are influenced by a multitude of factors, including supply and demand dynamics, raw material markets, and international market movements.

Factors Affecting Prices:

• The firmness in the overseas market and increased market transaction volumes have led to a rise in prices, with the domestic industrial-grade 95% glycerin market price increasing by 125 CNY/ton from the previous day, representing a 3.01% increase.

• Low operating rates in foreign biodiesel industries, limited production of crude glycerin, and high sea freight costs have contributed to foreign merchants' price support.

Conclusion:The glycerin market, including veg glycerin, continues to be influenced by global supply chain dynamics and domestic demand. Market participants are advised to monitor these trends closely as they navigate the market's volatility.