In May xxxx, Cx and Cxx solvent experienced a bearish price trend in the global market. Insufficient cost pressure from the feedstock market coupled with the weakness in the global crude oil market influenced the market significantly. At the same time, demand for the Cx and Cxx solvent from the downstream market remained sluggish, further pressured the prices downward.
Feedstock Naphtha prices were low during the month, due to the weak demand and the weak support from the upstream ethane. Upstream crude oil prices fell in May xxxx, due to the OPEC+ output hikes during the period, however, this was less the agreement and planned hike.
In the European market, prices for the Cxx solvent remained low coupled with the low demand and the ample inventory levels. In Germany, Cxx prices fell by x.xx during the month and reached at USD...
