China's glyphosate TC price goes up in COVID-19 outbreak

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Publish time:2/26/2020 12:00:00 AM Source: CCM
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In mid Feb., average ex-works price of China’s glyphosate TC was around USD (RMB21,000/t), with offers from major players raising by USD72.20/t-USD101.08/t (RMB500/t-RMB700/t).

Demand remained stable and low both at home and abroad, but price showed an upward tendency due to the COVID-19 outbreak when many enterprises had postponed their work resumption after the Chinese New Year holiday and most of roads were blocked nationwide. Producers in central China had moderately reduced their operating rates after the festival, whilst suppliers in the west raising prices as a result of regional significantly restricted transportation.

Inventory indicated high on the market, with main producers continuing their supply. Glyphosate TC price will likely remain stable and grow mildly, as both suppliers and purchasers currently took wait-and-see attitudes, with concern over subsequent epidemic situation – the former expected price rise for gaining more profits, while the latter wanted to figure out whether the market was in short supply or not, alongside worries about logistics.

The virus outbreak has pushed up glyphosate TC price, but remained unclear for the whole industry. For now, the production and price were directly affected by raw material and transport factors. Relevant impacts will be more obvious in the coming peak season.

View more articles at CCM Glyphosate China Newsletter February 2020 issue or email emarket1@cnchemicals.com to know more.

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China's glyphosate TC price goes up in COVID-19 outbreak

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