Glycerin prices are mostly flat to lower today. Refined prices continue to hold at last week’s levels while crude prices are gradually edging lower. Biodiesel margins have compressed in recent weeks with one trader saying, “nobody is buying 30 days out right now.” Most are waiting for demand to pick up following strong Q4 domestic biodiesel production.
Reduced biodiesel demand may have slowed glycerin supply, but this has been largely offset by a pullback in glycerin demand from the freeze control sector. One trader servicing this segment of the industry noted buyers have disappeared with the rising temperatures.
Crude glycerin traders and buyers surveyed were mostly universal in their opinion that the market remains range bound. Crude prices seem to be slowly rolling lower within the range, due market inactivity, and if product needs to move it is doing so at a level that incentivizes the purchaser.
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