Polytetramethylene Ether Glycol (PTMEG) prices stayed weak globally in mid-March, hit by low demand from the downstream spandex makers, overflowing stockpiles, and a quiet market mood. Even with steady support from feedstock tetrahydrofuran (THF), too much supply and slow trading kept prices stuck in major areas.
In China, PTMEG supply remained excessive as post-Lunar New Year production ramp-ups led to intensified competition among producers. Several major players, including Jiaxing Hyosung and Blue Ridge Tunhe, scheduled maintenance turnarounds in late March and April to ease selling pressure and manage losses. These shutdowns are expected to reduce operating rates to around xxx, but current inventories remain high.
Cost support from THF stayed largely unchanged, preventing major cost shifts. Despite some recovery in China’s manufacturing sector, export growth slowed to x.xx in Jan-Feb from xx.xx in December. U.S. tariff hikes, including a xxx rate on Chinese goods from x...
