Gum rosin market weekly review(posted on Jul.28)
The downward trend of gum rosin market slow down in main producing province in the past week; the supply volume of pine oleoresin shrink when the procurement price came down to 4300RMB/Mt; moreover, with the coming of crop harvest season in the south of China, some pine oleoresin tapping workers temporally leave tapping site for farming. Some gum rosin producers face with certain financial pressure in the midseason, they seek financial support from bank instead of selling gum rosin with low price. Gum rosin traded at about 5800RMB/Mt (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port, business volume is not so large.
Turpentine oil market still keep firm due to good offtake, the price keep at 6300-6500RMB/Mt (super grade, pinus massoniana) in Guangxi province, 7700-7800RMB/Mt (super grade, Pinus elloittii) in Jiangxi province.
For the export market, gum rosin exporters quoted at about 800USD/Mt (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port.