China's DPGME Market Dropped 2.7% in October due to weak demand stagnation in downstream markets, decreasing feedstock prices, and abundant supply led to the decline of China DPGME market in October. Paints and coatings had to cope with the post-Golden Week and the winter shutdown in construction and retail buyers scratched their way through their inventories. Epoxy resin demand also weakened, and traders withdrew their prices. Exports continued to be weak after 20-30% U.S. tariffs were suspended, favoring small volumes. Producers stood their ground on prices as propyl oxide prices plunged over double digits, allowing for discounts in spite of the elevated inventories. Meanwhile, port congestion reached its peak (10+ days wait in Ningbo, Shanghai, Qingdao) under the influence of typhoon backlogs together with geopolitics and U.S. vessel surcharges, but minimal demand balanced out the support from prices. ChemAnalysts expects the softness to continue into November with no pre-winter restocking, indicating further price tests towards lower supports.
