Glyoxylic acid monohydrate

Market Intelligence on Glyoxylic Acid MonohydrateI. Price Trends1. **Domestic Market**: Over the past week, the mainstream transaction price of glyoxylic acid monohydrate in the domestic market has fluctuated in the range of 8,500 - 9,200 RMB/ton, representing an overall increase of approximately 3% - 5% compared to the previous week. Specifically, prices in the East China region remain relatively high, maintaining at 9,000 - 9,200 RMB/ton; prices in the North China region are between 8,600 - 8,900 RMB/ton; and prices in the South China region are in the range of 8,700 - 9,000 RMB/ton.2. **International Market**: In the international market, prices of glyoxylic acid monohydrate show a differentiated trend. Prices in Europe and the US remain relatively stable at 1,300 - 1,400 USD/ton (FOB), influenced by local environmental policies and production costs. In other Asian regions, such as India and Southeast Asia, prices are affected by Chinese exports, with recent prices at 1,100 - 1,200 USD/ton (CFR), reflecting a slight increase of 2% - 3% compared to the previous week.II. Supply and Demand Situation1. **Supply Side** - **Domestic Production**: The operating rate of major domestic production enterprises has been maintained at approximately 75% - 80%, remaining largely unchanged from the previous week. Some enterprises have postponed equipment maintenance plans, resulting in no significant short-term decline in production volume. However, with the onset of winter, some northern enterprises may face production restrictions due to environmental protection policies, which could potentially suppress future output. - **Import Volume**: Recent import volumes of glyoxylic acid monohydrate have increased, with Japan and South Korea being the main sources of imports. According to customs data, last week's import volume was approximately 500 tons, a month-on-month increase of 15%. The increase in imports is mainly due to foreign enterprises intensifying their exports to the Chinese market to digest inventory.2. **Demand Side** - **Downstream Industry Demand**: The main downstream industries for glyoxylic acid monohydrate include pharmaceuticals, fragrances, and food additives. In the pharmaceutical industry, the high incidence of influenza in winter has increased the demand for related drug production, leading to a rise in procurement of glyoxylic acid monohydrate. In the fragrance industry, the proximity of year-end holidays has boosted demand for fragrance products, thereby driving demand for glyoxylic acid monohydrate. Demand in the food additive industry remains stable and growing. - **Export Demand**: Recent international demand for glyoxylic acid monohydrate has shown signs of recovery, particularly in Southeast Asia, where procurement of Chinese products has increased. Last week's export volume was approximately 800 tons, a month-on-month increase of 12%.III. Cost Factors1. **Raw Material Costs**: The main raw materials for glyoxylic acid monohydrate are glyoxal and hydrogen peroxide. Recently, glyoxal prices have shown a slight upward trend due to fluctuations in upstream oil prices, with current market prices at 6,000 - 6,500 RMB/ton, an increase of approximately 2% - 3% compared to the previous week. Hydrogen peroxide prices remain relatively stable, maintaining at 800 - 900 RMB/ton. The rise in raw material costs provides certain support for the price of glyoxylic acid monohydrate.2. **Energy Costs**: With the arrival of the winter heating season, prices for energy sources such as coal and natural gas have risen, increasing enterprise production costs. Some enterprises may raise product prices to transfer cost pressures.IV. Policy Environment1. **Environmental Protection Policies**: Domestic environmental protection policies continue to tighten, imposing stricter requirements on production emissions for chemical enterprises. Producers of glyoxylic acid monohydrate need to increase environmental protection investments to ensure that production processes meet environmental standards. This may increase enterprise production costs, thereby affecting product prices.2. **Trade Policies**: The recent international trade situation is complex and volatile, with factors such as US-China trade friction potentially impacting the import and export of glyoxylic acid monohydrate. However, currently, the direct impact on glyoxylic acid monohydrate is relatively small. Nevertheless, enterprises need to closely monitor changes in trade policies and prepare accordingly.V. Analysis and Judgment1. **Short-term Outlook**: Influenced by rising raw material costs, increased downstream demand, and growing import volumes, the price of glyoxylic acid monohydrate is expected to continue its upward trend in the short term, although the rate of increase may gradually narrow. It is predicted that the mainstream domestic transaction price will fluctuate between 8,800 - 9,300 RMB/ton in the coming week.2. **Medium- to Long-term Outlook**: With the implementation of winter environmental production restrictions, domestic supply may be somewhat suppressed, while downstream demand is expected to remain strong until the end of the year. Additionally, the recovery in international market demand will provide certain support for domestic prices. Therefore, the price of glyoxylic acid monohydrate is expected to continue rising in the medium to long term, but the extent of the increase will depend on changes in supply and demand relationships and fluctuations in raw material costs.VI. Forecasts1. **Price Forecast**: Over the next month, the domestic market price of glyoxylic acid monohydrate is expected to break through 9,500 RMB/ton, but the likelihood of reaching 10,000 RMB/ton is relatively low. Regarding international market prices, prices in Europe and the US will remain relatively stable, while prices in other Asian regions may follow domestic market prices and increase slightly, expected to be in the range of 1,150 - 1,250 USD/ton.2. **Supply and Demand Forecast**: In terms of supply, domestic production may decrease due to winter environmental production restrictions, while import volumes may fluctuate depending on the inventory digestion status of foreign enterprises. In terms of demand, downstream industry demand is expected to remain strong, and export demand is also anticipated to continue growing. Overall, the market supply and demand relationship for glyoxylic acid monohydrate is expected to remain in a tight balance state in the near future.