US glycerin prices diverged slightly on Monday July 8 as market participants gave mixed views about how supply and demand could move in the second half of the year.
Kosher crude glycerin prices decreased but stayed at a premium over regular crude glycerin at a midpoint of about 11 cents per lb. Crude glycerin prices strengthened slightly on the week to a midpoint of about 8 cents per lb.
On one side, a few traders said that trade was tight due to uncertainty about supply through the end of 2024.
One trader believed that biodiesel production would not be encouraged in the second half of the year because production had already reached 70% of the mandated volume for the year and production margins are compressed.
A second trader said that “the market feels tight. I have had no luck purchasing [glycerin]… it wouldn’t surprise me if we found out that plants were going to start slowing down due to margins.”
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