Glycerin prices in the US remain relatively weak due to patchy fluctuations in supply and demand. Demand for glycerin, which had been extremely strong, has reduced following the post-COVID economic slowdown in China. Supply, on the other hand, continued to grow with advancing US biodiesel production through Q2 2023. Recently, the domestic US biodiesel market has seen production slow, allowing merchant stockpiles of glycerin to begin to drawdown.
Traders speaking with The Jacobsen have mentioned over the past couple of months that crude glycerin prices have likely bottomed. However, the outlook on the refined side seemed less transparent with an abundance of glycerin suspected of still being warehoused.
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