Oct.20 Gum rosin market weekly review (Posted on Oct.22)
After 10 weeks upward trend, gum rosin market made its turning point in the past weeks, gum rosin price lost about 200RMB per metric tons and traded at about 7100RMB/Mt (ww grade, steam method, Pinus massoniana, packing with galvanized iron drum) in Huangpu port. With unstable price, trading is not so active; most buyers prefered to take wait-and-see attitude on the market. The main reason for the price decline was that gum rosin producers dropped down pine oleoresin procurement price for consideration of risk reduction. However, turpentine oil market continually kept firm due to good demand, traded at about 7200RMB/Mt (super grade, pinus massoniana, factory gate price) in Guangxi province; 8250RMB/Mt (ww grade, pinus elloittii, factory gate price) in Jiangxi province.
The procurement price of pine oleoresin moved down quickly in the past week because a large batch of pine oleoresin supplied to the market in the beginning of the week; gum rosin producers dropped down the procurement price for consideration of risk reduction, in the weekend, the supply of pine oleoresin shrinked slightly and the procurement price of pine oleoresin was set at about 5400RMB/Mt in Guangxi, 5500RMB/Mt in Guangdong and 5300RMB/Mt in Yunnan province.
In sale market in north and east of China, gum rosin was trade at about 7100-7200RMB/Mt, trading was slack. The Thirteenth China Annual Gum Rosin Meeting will be held on October 26 to 28 in Dalian, Liaoning province.
Exporters were also quiet in the past week due to unstable price, some exporters quoted gum rosin at 970 USD/Mt (ww grade, steam method, pinus massoniana, packing with galvanized iron drum) in Huangpu port.
Weekly price trend of pine oleoresin as on Oct.20
*. Pine oleoresin is raw material of gum rosin and turpentine oil, also it called “crude gum”, it has close relation with gum rosin price.
Unit: RMB/Mt
|
Date |
2007 |
Change |
2007 |
Change |
2007 |
Change |
Oct. 2006 |
|
Province |
Oct.20 |
% |
Oct.13 |
% |
Sep.20 |
% |
Average |
|
Guangxi |
5400 |
-7.69 |
5850 |
-5.26 |
5700 |
-12.90 |
6200 |
|
Guangdong |
5500 |
-7.56 |
5950 |
-5.17 |
5800 |
-12.70 |
6300 |
|
Yunnan |
5300 |
5.36 |
5600 |
-3.64 |
5500 |
-8.62 |
5800 |
Weekly price trend of gum rosin and turpentine oil as on Oct.20
*. Gum rosin, trading price in Huangpu port, ww grade, steam method, Pinus massoniana, packing with galvanized iron drum.
*. Turpentine oil, super grade, derives from Pinus massoniana, factory gate price in Guangxi province.
|
Date |
2007 |
Change |
2007 |
Change |
2007 |
Change |
Oct. 2006 |
|
product |
Oct.20 |
% |
Oct.13 |
% |
Sep.20 |
% |
Average |
|
Gum rosin |
7100 |
-2.74 |
7300 |
0.00 |
7100 |
-12.34 |
8100 |
|
Turpentine oil |
7200 |
+1.41 |
7100 |
+6.67 |
6750 |
-8.86 |
7900 |
Weekly price chart of gum rosin (Jan.06, 2007- Oct.20, 2007)
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Gum rosin, Turpentine oil weekly price table (Jan.06, 2007- Oct.20, 2007)
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