Weekly market report(Dec.04)
Gum rosin and turpentine oil market still weak in the past week and the price moved down. Procurement price of raw material, pine oleoresin, was about 5000-5200RMB/ton in main producing province, but the supply declined apparently in Guangdong province, but in Guangxi province, producers estimated that a considerable amount of pine oleoresin will be procured before middle December. With the depression of the market, gum rosin producers will not lift up raw material price and some producers will quicken trading of gum rosin for capital return for the last batch of raw material procurement. In Yunnan province, the production was in normal and the price went online with those in main producing province. In other province, the crop season of 2006 was basic over. Trading in domestic was still slack, the quotation of gum rosin was about 6900-7000RMB/ton in Guangxi province, 7000-7100RMB/ton in Guangdong province and Huangput port. Turpentine oil was quoted at 6800RMB/ton (super grade, Pinus massoniana).
For the export market, the gap of price expectation between producers and overseas users was still in large different and trading was still thin. The export quotation was quite confusion in the past week, gum rosin quoted at about 850USD/ton (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port; turpentine oil was quoted at about 1015USD/ton (super grade, Pinus massoniana).