The slight rise in glycerin prices might be slowing. Producers and traders still expect to see a softening in biodiesel production heading into Q1 2024. However, that hasn’t been reflected in the current glycerin market at this point.
Several producers have already reduced production at some plants with additional production expected to slow following the end of the year, after contracts have settled. This caused some buyers to enter the market to secure supply in order to not be caught short.
The mini price squeeze higher may have paused until the market begins to see an actual supply reduction. One trader mentioned securing additional glycerin over the past couple of weeks but now finds producers unable to carry prices higher this week.
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11.21.2024
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