From January to now, the manufacturers have been mainly executing the previous vitamin E orders, and the market quotation remains stable at 70 RMB/kg. On February 22,ZMC announced to raise the price to 85RMB/kg which ignited the market.
In 2019, vitamin E price gradually climbed out of the bottom space. After the outbreak of the pandemic, exports surged. As a result, the contradiction between supply and demand pushed up the price. The customers overbought in panic, then followed with a period of destocking phase, prices began to weaken slightly.
China's Ministry of Commerce announced that anti-dumping duties on imports of m-cresol from USA,EU,UK and Japan starting from January 15, 2021, this has directly driven up the cost of m-cresol as a starting material of vitamin E.
We believe further significant price increase in 2021.
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