Glycerine Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst


For the Quarter Ending September 2023


North America:

In the third quarter of 2023, the North American Glycerine market underwent a significant devaluation. Glycerine Refined USP 99.5% DEL Illinois (USA) prices dropped from $1875 per metric ton in July to $1625 per metric ton in September, marking a considerable decrease. Similarly, Crude Glycerine 80% FOB Houston (USA) experienced a decline from $296 per metric ton in July to $290 per metric ton in September. This decline, averaging 4.15% and 1.58% quarterly, respectively, was primarily driven by a global surplus of Glycerine, profoundly impacting market worth. Local traders strategically reduced price quotations to address this challenge, contributing to a broader market devaluation. The significant reduction in Glycerine prices was influenced by a notable decrease in the cost of its primary raw material, Palm oil. Lower production costs in exporting nations resulted in decreased prices. Favorable weather conditions and ample rainfall in palm harvest regions further contributed to the decline. The substantial price reductions in competing countries like Indonesia and Malaysia prompted significant adjustments in US market prices, reflecting broader global market dynamics.

Asia Pacific:

In the third quarter of 2023, the Glycerine market in the Asia Pacific region experienced a notable and positive shift. Prices for Glycerine Refined USP 99.5% FOB Jawa Barat and Crude Glycerine 80% FOB Tanjung Priok in Indonesia decreased from $625 to $610 and $280 to $260 per metric ton, respectively. This marked an average quarterly drop of 2.55% and 1.53%. The decline in glycerin prices was primarily attributed to a seasonal slowdown in the manufacturing sector, a key consumer of Glycerine in Indonesia during the summer months. The reduction in crude oil prices in July 2023 also played a role, lowering production costs linked to Glycerine as a byproduct of biodiesel production. Palm oil, another crucial raw material, experienced an increase in production cycle, with declining futures prices due to flat terminal demand and weather impacts. Despite an increase in refined and crude Glycerine prices mid-quarter, driven by rising palm oil prices, the market later witnessed a retreat in prices in major exporting countries' domestic markets.

Europe:

In the third quarter of 2023, the pricing landscape for Glycerine in Europe underwent significant changes. Glycerine Refined FOB Antwerp (Belgium) prices decreased from $1940 to $1775 per metric ton, reflecting a noteworthy quarterly decrease of 3.40%. Conversely, Crude Glycerine 80% FOB Algeciras (Spain) saw a modest increase from $382 to $375 per metric ton, with a 0.15% quarterly rise. The global oversupply of Glycerine had a profound impact on market value, prompting domestic traders to strategically lower their price quotes to mitigate potential losses. The significant drop in Glycerine prices was driven by a reduction in the cost of its primary raw material, Palm oil, impacting manufacturing costs in exporting countries. The European market closely followed pricing trends set by leading palm oil exporters, Indonesia and Malaysia. In Spain, initial price increases were observed due to higher crude Glycerine prices, but prices later dropped due to sufficient inventories and decreased demand. This decrease in Glycerine prices aligns with broader global market dynamics.


MEA:

In the third quarter of 2023, the Glycerine market in the Middle East and Africa (MEA) witnessed a notable and positive shift. Prices for Glycerine CFR Jeddah (Saudi Arabia) decreased from $1010 to $900 per metric ton, averaging a 6.03% decline over the quarter. Uncertain economic conditions and rising inflation led to reduced demand for Glycerine in relevant industries, resulting in scaled-back manufacturing, increased stockpiles, and lower prices. The reduction in the costs of key raw materials, such as palm oil and other edible oils, further contributed to lower production expenses, exerting downward pressure on Glycerine prices. Abundant supplies and existing stock inventories weakened the market situation, and favorable weather conditions in palm harvest regions contributed to decreased palm oil prices. Substantial price reductions in competing countries prompted South American market participants to significantly lower their prices, reflecting broader dynamics in the global Glycerine market.

 




 

 

 
 

About Us:

ChemAnalyst is an online platform offering a comprehensive range of market analysis and pricing services, as well as up-to-date news and deals from the chemical and petrochemical industry, globally.

Being awarded ‘The Product Innovator of the Year, 2023’, ChemAnalyst is an indispensable tool for navigating the risks of today's ever-changing chemicals market.

The platform helps companies strategize and formulate their chemical procurement by tracking real time prices of more than 400 chemicals in more than 25 countries.

ChemAnalyst also provides market analysis for more than 1000 chemical commodities covering multifaceted parameters including Production, Demand, Supply, Plant Operating Rate, Imports, Exports, and much more. The users will not only be able to analyse historical data but will also get to inspect detailed forecasts for upto 10 years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.

 

Contact Us:

ChemAnalyst

GmbH - S-01, 2.floor, Subbelrather Straße,

15a Cologne, 50823, Germany

Call: +49-221-6505-8833

Email: sales@chemanalyst.com

Website: https://www.chemanalyst.com

Comments

Post a Comment

Popular posts from this blog

n-Butanol Prices: In the second quarter of 2023 | ChemAnalyst

Image
  For the Quarter Ending June 2023 North America   During the second quarter, the overall  n-butanol market  in the US remained weak as compared to the first quarter, which was influenced by the lower demand for the feedstock propylene market. The n-butanol market continued to follow the increasing trend till April amid tight supply. As per the data, the Industrial Production Total Index rose from 102.6 (March) to 103.1 (April), causing economic activities to improve. At the same time, the US has faced high-cost pressure due to the production cut. Moreover, positive demand for the downstream coating industry was observed, which has contributed to the further increase in prices for n-butanol in the US market as consumer spending in the country recorded an increase in new orders. However, the n-butanol demand saw negative buying sentiments amidst lower demand in the coating industry of the US, which has influenced the prices to continuously decrease and settle at 2252 ...
Read more

Naproxen Price, News, Trend, Monitor, Supply & Demand, Forecast | ChemAnalyst

Image
Naproxen Prices   a nonsteroidal anti-inflammatory drug, has been a staple in the pharmaceutical market for decades, renowned for its effectiveness in managing pain and inflammation associated with various conditions such as arthritis, menstrual cramps, and musculoskeletal injuries. Its widespread use has led to a dynamic market with fluctuating prices influenced by various factors. One of the primary drivers of Naproxen market prices is its demand-supply dynamics. As with any commodity, when demand surpasses supply, prices tend to rise. Conversely, an oversupply can lead to price declines. Factors such as changes in population demographics, prevalence of conditions requiring Naproxen treatment, and production capacity of pharmaceutical companies all play crucial roles in shaping this equilibrium. Additionally, fluctuations in raw material costs and manufacturing expenses contribute to price variations. Moreover, competition within the pharmaceutical industry significantly impacts ...
Read more

Sodium Bisulfite Prices: Trend, Demand & Supply, Market Analysis | ChemAnalyst

Image
For the Quarter Ending September 2023   North America In the third quarter of 2023,  Sodium Bisulfite  rates in CFR New York displayed fluctuations, ranging between $778 and $802 per metric ton. This variability indicated a clear preference for lower price points, with an average quarterly decrease of 2.10%. The domestic market saw a decline driven by increased demand across industries, prompting sellers to gradually reduce prices. Abundant inventory levels contributed significantly to the pessimistic pricing trend in the United States. Exchange rate fluctuations between the US dollar and the Yuan increased import costs, leading to a reduction in trading activities. Despite some easing of inflation, market participants remained vigilant due to the Federal Reserve's decision to raise interest rates. Starting in July, prices notably decreased due to warehousing expenses and inventory in the United States. Additionally, a decline in the prices of the key raw material, S...
Read more