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Glyphosate prices have seen a steady upward trend, with the average price increasing by nearly 7% last week. Actual transaction prices have reached between 3.95 and 4.50 thousand yuan per ton, marking a new high for the period. This surge has also led to a rise in shares of companies such as Xinan, Jiangshan, and Yangnong Chemical.
In recent news, on July 19, the domestic glyphosate market remained tight, with high temperatures continuing to impact operations. According to industry reports, the market saw high-end quotations ranging from RMB 39,000 to RMB 40,000 per ton, while low-end offers were scarce. The glycine route for 95% glyphosate is currently priced at around 37,800 to 38,500 yuan per ton, while the IDA route for 95% glyphosate powder is trading at 5,900 to 6,200 USD per ton. As of July 18, the glyphosate commodity index stood at 168.89, hitting a record high since its inception on September 1, 2011. Over the past 90 days since April 17, the index has risen by 7.44%.
Market feedback indicates that environmental inspections by companies are set to conclude by July 31. Companies in Shandong, Sichuan, and Zhejiang have started maintenance plans for their equipment. Additionally, recent flooding in Sichuan has disrupted production and transportation for several manufacturers, further tightening supply. Traders report that South American buyers are concerned about potential supply cuts due to environmental pressures and have begun procuring earlier than usual. As a result, overseas orders have increased notably over the past two weeks. Mainstream companies remain cautious, prioritizing existing orders and delaying new ones, while smaller firms have confirmed they have no plans to accept new orders in the near future.
On the cost side, glycine producers have once again reduced prices due to the sluggishness of raw materials like chloroacetic acid and lower operating rates for glyphosate. Price adjustments have ranged between 300 to 600 yuan per ton, with current mainstream prices remaining at 10,600 to 10,800 yuan per ton, while lower-end prices hover between 10,200 and 10,500 yuan per ton. The Sichuan floods have also caused some phosphate rock suppliers to halt operations, leading to a decline in phosphate ore prices by 40 yuan per ton. This has further weakened the price of yellow phosphorus, a key raw material for glyphosate. With raw material prices still low, corporate profits are expected to face pressure.
Sun Mingming, an analyst at the Glyphosate Division of the Business Club, believes that the continued tightening of environmental regulations and the early procurement activities of South American buyers have significantly tightened the supply-demand balance in the market, leading to a more optimistic outlook for glyphosate prices in the coming months.