Recent news on Chinese raw metarial market.
Entering April, most raw materials have gone through a process from high to low. The high prices in February were due to the abnormal supply in Europe, America and the Middle East, which led to the increase in domestic export demand. The prices returned to rationality in March.
However, due to the recent accident in the Suez Canal, the freight has risen again. And after the Ching Ming Festival, with The factory resumed operations, domestic demand for raw materials will rise, and prices are expected to rise too.
Under the influence of these two factors, the price increase of chemical products after the Ching Ming Festival seems to have been obvious.
Some products such as MMA, PA, MA, SM have stopped falling and rebounded. PA’s discharge has been scheduled to May, and the demand is very strong.
Some products that remain stable at present, such as MAA, MPG, and BAM, but prices may be affected by rising domestic demand after the Ching Ming Festival.
On the other hand, some products like Titanium dioxide, NPG has risen instead of falling. As one of the basic raw materials for coatings, the demand for titanium dioxide has been strong. The increase in the price of NPG may also indicate the strong demand for downstream alkyd resins.
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