Weekly Review of China Rosin Market(Nov.24-28,2008)

Weekly Review of China Rosin Market(Nov.24-28,2008)

Copyright of Rosinworld@hotmail.com

This week is the first week after the annual Rosin meeting in Wuhan city, the atmosphere of China rosin market has been basically stable and market prices remained relatively stable, but the closing price still fall slightly that of last week. At present, Pinus massoniana Gum rosin (steam method,WW grade) price in Guangxi Province isaround 5650 yuan / ton, and Pinus Yunnanensis Gum rosin WW Grade price for delivery at Huangpu Port,Guangzhou is about 5350 yuan / ton. Jiangxi Pinus elliottii Gum rosin ex-factory price is around 5450 yuan / ton, Guangxi Pinus elliottii Gum rosin ex-factory price is 5300 yuan / ton, ex-factory price of Fujian Pinus massoniana Gum rosin is around 5700-5750 yuan / ton and less marketable. At the meantime, Yunnan Gum rosin price sells better as due to its competitiveness in price.

Althogh the rosin market is still in the doldrums, the main producing areas still has seen aa s stable market for Pine oleoresinresin prices. In Yunnan Province, there has been even some increase in the Pine oleoresinresin prices. have remained relatively stable areas in Yunnan pine resin was also a slight price increase.

On the one hand, it is because of the the cold weather, the main producing areas do not have too much more pine oleoresinresin to produce, On the other hand, the purchasing price for Pine oleoresinresin remains low,which is also frustrated the enthusiasm of farmers who then do not want to sell resin. In main producing areas.

Anyway, at this week, purchase for Gum rosin from home and abroad has increased a little. For the foreign trade companies, the new orders are under negotiation and some said there was offering prices as lower as USD850/Ton came from foreign buyers. So it is a challenge for the exporters as to accept the price or not are both a hard job.

In general, the China rosin market is now on the phase of recovery and people on this line are more confidential than early this month. The focus is the market in December. At the moment, the market is becoming better than the worst phase, as the sells go slightly better, the industry is now expecting a better marker situation.