This week witnessed a decline in Raffinate pricing in the US market, primarily caused by the feedstock, crude oil, failing to provide sufficient cost support. This decline was partly influenced by the reduction in market transactions during the holidays. Additionally, the procurement of fresh orders depended on demand, and the manufacturing sector contracted, as indicated by the Purchasing Managers&#xx; Index (PMI) remaining below xx. A pessimistic outlook has been fostered by the persistent high interest rate, which has been at x.xx since July xxxx, further contributing to a general downturn in market sentiments.
Downstream industries, particularly MTBE and MEK, experienced challenges, but Raffinate factories continued to operate at regular speeds. Moreover, steady natural gas prices resulted in stable production costs, muting the Raffinate market&#xx;s performance. Additionally, the expansion of the Raffinate market is further hindered by reduced market transactions.
Raffinate’s feedstock crude experienced...
