1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyishe, palm oleic acid remained stable this week. As of May 24th, the mainstream price of palm oleic acid (purity ≥ 70) in China was 11466.67 yuan/ton, which remained unchanged from last week and increased by 0.29% compared to April 1st.

2、 Market analysis

Cost side:

Starting from mid May, palm oil has risen, and the demand for summer oil consumption has weakened. The bearish sentiment has suppressed the continuous upward momentum of the palm oil market. After the rise, it gradually experienced a pullback. Due to the fact that Malaysian palm oil is in the production cycle and the external market is not good, the overall palm oil market has slightly fluctuated and risen. As of May 24th, the average price of palm oil in the market exceeded 7900 yuan/ton.

Supply and demand side:

This week, the load rate of the oleic acid industry was at 4.6 levels, slightly lower than last week. There is abundant supply on site, and downstream oleic acid amide prices remain unchanged from last week. The willingness to purchase raw materials is not high, and transactions are weak, with many orders being for essential goods. Market demand has weak support for prices.

3、 Future Market Forecast

This week, the market for palm oleic acid has stabilized. The overall palm oil market in the upstream has fluctuated slightly and increased, with some support for the cost of palm oleic acid. Downstream demand enterprises have weak purchasing willingness and weak transaction volume; It is expected that the price of palm oleic acid will be weak in the near future.