What drives glycerin price trends in the Chinese market?

What drives glycerin price trends in the Chinese market?
Glycerin pricing is primarily feedstock-driven. Refined glycerin follows crude glycerin, which is a byproduct of biodiesel; roughly 10 tons of biodiesel yield 1 ton of 80% crude glycerin. Hydrolyzed glycerin, derived from fatty acid, fatty alcohol, and soap production, is somewhat influenced by refined glycerin prices. In 2022, prices were high in H1 but fell sharply later, reflecting feedstock volatility and demand weakness. Recent weekly assessments show glycerin rebounding on cost support and downstream restocking, though gains are limited as buyers purchase only on a need basis. Palm oil strength and tight import supply of certain feedstocks provide near-term support, but the overall market remains range-bound without strong end-use pull.