China’s glyphosate market did not get out of downturn in H2 2015. Although most
of manufacturers tried to stabilize the glyphosate price, the price still
dropped by 4.97% year at the end of 2015.
In H2 2015, China’s glyphosate market did not get out of downturn. Although
most of manufacturers did not reduce the glyphosate price and build momentum
for the coming peak demand season. Therefore, from Aug. to Nov., the average
ex-works price of glyphosate TC stabilized at the same level. However, the
price recorded a YoY drop of 4.97% at the end of 2015.
July
The market was still in downturn with weak demand, few orders and low price.
Aug.
More and more manufacturers entered the equipment overhaul period to cope with
the stagnant market. Although the price is at low level, it still remained
stable. Also, the devaluation of the RMB boosted the export market to some
extent. What’s more, the production of chemical enterprises and logistics were
strictly limited by the Tianjin blast and the coming military parade of 70th
anniversary of the victory of the Chinese people’s war of resistance against
Japanese aggression and the world anti-fascist war. These helped increase the
price of chemicals.
Sept.
As more and more enterprises suspended their production, the supply volume of
spots declined. Furthermore, most of glyphosate manufacturers started to
increase the quotations of related glyphosate product to prepare for the 16th AgroChem to be held in Shanghai in Oct. But the actual transaction price did
not increase.
Oct.
Since part of industry insiders still expected the market to recover, the
market supply slightly rose. Meantime, Sichuan Hebang Biotechnology Co., Ltd.
announced to put its 50,000 t/a glyphosate TC production equipment into trail
production, which posed pressure on the supply market. It was difficult for the
glyphosate price to rise under the increased supply and depressed raw material
market.
Nov.
As winter came, pesticide industry encountered the off-season commercial
reserve period. Nevertheless, pesticide distributors did not have high
enthusiasm for it. The purchases were slack still. What's more, the price was
hard to rise because the new capacities have entered the market. The average
ex-works price of 95% glyphosate TC was USD3,039/t, the same over that in Sept.
and Oct.
Dec.
Hubei Xingfa Chemicals Group Co., Ltd. successfully put 60,000 t/a glyphosate
TC expansion project into trail production. In this month, the glyphosate
market still remained depressed. What's worse, overseas orders further
decreased due to the coming Christmas and New Year holiday. Domestic price
continued falling to USD2,888/t (95% glyphosate TC), down 4.97% month on month
and down 27.75% year on year. Purchasers kept expecting the market to improve.
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Tag: glyphosate