n-butanol prices in the Chinese market recorded a remarkable increase of x.xxx in Hx January xxxx due to the tight market supply, high production cost combined with needs to stock in the early year. Due to a force majeure at Guangxi Huayi New Material Company based in Qinzhou as well as maintenance shutdowns at other Chinese manufacturers earlier in the month, the supply tightened significantly, limiting the availability n-butanol in spot.
As for the cost, the feedstock propylene price climbed x.xxx due to the strong upstream crude oil trend in light of rising geopolitics tensions. Elevated tensions followed the threat of US military action against Venezuela, and against the backdrop of intensifying military activity in the Middle East. Crude oil prices increased consecutively during the first two weeks of January xxxx, with the West Texas Intermediate (WTI) crude price reaching USD xx.xx per barrel on January x, xxxx,...
