Glyoxylic acid price report for First half of 2024
Glyoxylic acid price is stable with an upward trend in past five months. As a salesman with ten years of experience,below is our points.
Since end of February, one China factory has stopped producing bulk tons Glyoxylic acid. And one reducing capacity. Till now it has not recovery production plan. This leads to a decrease in the quantity of glyoxylate on the market.
Especially since the beginning of March, the foreign demands sharp increase. Due to our price advantage, we have received more foreign orders. The production plan was scheduled for a maximum of 2 weeks. After Workers’ Day, with the delivery of foreign orders, it is now possible to deliver in stock or within a week.?Glyoxylic acid EXW price is higher around CNY300~CNY500 than that in 2023.
In fact, on this round of price increases?the impact of raw material prices is not significant.?In the second half of 2023, the price of ethylene glycol ranges from CNY3800 to CNY4000/MT. Since January, the price of ethylene glycol ranges from CNY 4400 to CNY 4800/MT. It has been stable around CNY4400 in past 30 days.
Why do customers say the price is high? ‘Ocean Freight’. For example, the ocean freight to Brazil has been USD6000 per container. Also it is almost no cabin available. Comparatively speaking, it is USD4900 in April and USD3700 in Mar.
Before the arrival of summer in China, the price of glyoxylate is basically stable and will not rise. Customers who have a demand for glyoxylate can schedule their procurement in June based on changes in shipping costs we think. The above suggestion is for bulk tons at least one container orders. It has no much difference for orders by LCL.
As a manufacturer with a professional sales team, we are willing to provide customers with advice on when to make a purchase. Our customers are also very grateful to us for delivering the goods before the shipping cost increases.