In August 2021, China's total export volume of xanthan gum increased by 11.5% month-on-month
In terms of domestic sales, the average real transaction price of xanthan gum market in August 2021 was relatively stable compared to July. Upstream companies have a positive attitude, and they have continued bullish intentions driven by costs. According to statistics from Zhuo Chuang Information, the average monthly transaction price of food grade 80 mesh this month was 24,350 yuan/ton, which was stable month-on-month and increased by 39.9% year-on-year. In terms of foreign trade, China's total export volume of xanthan gum in August 2021 was 11,600 tons, an increase of 11.5% from 10,400 tons in July, and the average export price was 4,850 US dollars/ton, which was a 0.2% decrease from July 4,861 US dollars/ton.
Market outlook: The start of upstream operations is subject to significant increases in raw material costs and restrictions on environmental protection policies. Considering that the price of corn and chemical auxiliary materials is much higher than in previous years, the cost pressure of xanthan gum raw materials cannot be ignored. In terms of international demand, global economic activity is still accelerating. Global oil demand has recently risen to near record levels. International oil prices have slightly adjusted. The US oil infrastructure in the Gulf of Mexico continues to recover. OPEC+ agreed to increase oil production by 400,000 barrels per month starting in August, and plans to continue to increase production by 400,000 barrels per day in October and November. According to data from the Russian Ministry of Energy, domestic oil production rebounded in the first half of September and is expected to be about 270,000 barrels per day, or 2.6%, higher than in August. Taking into account the latest developments in major oil-producing countries, China’s xanthan gum exports are expected to remain above 10,000 tons in September, which may be affected by rising shipping costs and tight shipping capacity. In terms of monthly average prices, domestic corn prices are relatively high, chemical auxiliary materials and thermal coal have risen sharply. Xanthan gum companies have a strong intention to pass on costs, and quotations continue to rise. It is estimated that the average export price of xanthan gum in September and the entire fourth quarter will be compared Rose slightly.
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