Gum rosin market continually kept in stable in the past week. In main producing province, most gum rosin factories have ignited their production line, the procurement price of pine oleoresin is about 4700RMB/ton in main producing province; rainy weather condition in south of China brought certain negative impact on pine oleoresin tapping and transportation. Gum rosin is traded at about 6400RMB/ton (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port, business volume is normal. In Yunnan province, it is rainy season at present, the production of pine oleoresin and gum rosin basically closed. In other producing province such as Guizhou, Fujian and Jiangxi, limited pine oleoresin is supplied to the market and a few gum rosin factories begin to produce new gum rosin.
In domestic sale market, gum rosin is traded at about 6400-6700RMB/ton (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in the northeast China.
In the past weekend, it was a noticeable news that the duty drawback policy on export commodity will possibly be adjusted in the coming July; according to news resource from Chinese financial newspaper, raw chemical material and fine chemicals are on the list, thus the duty drawback policy on export of gum rosin, gum rosin derivatives, turpentine oil derivatives will be possibly adjusted in July. However, the exact date and commodity list still not yet officially announced by the government.
For the export market, the quotation kept at the same level of last week, about FOB 760USD/Mt (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port. Exporters are cautious for forward export contract due to the potential change of duty drawback policy on gum rosin and derivatives export.