Propionic acid supply remained sufficient in the US market without reporting any major shutdown for maintenance during the first half of January.
Feedstock ethylene prices didn’t provide any solid support because the price of upstream crude oil also declined, making it less expensive for the propionic acid producers to produce their product.
Global crude oil prices declined nearly xxx in xxxx as oversupply concerns and slowing demand outweighed geopolitical risks. Higher output from OPEC+ and non-OPEC producers, along with weaker demand growth—especially from China—kept energy markets low.
Export market provided some support to stop the prices significantly. In recent months, propionic acid export increased nearly xxx. Importing nations increased the queries due to logistics disruption that usually happens during the severe winter. To mitigate that disruption, importing nations like Brazil, Belgium, Netherland increased the procurements activities...
