Stabilized Polybutylene Terephthalate Prices Due to Volatilizing Feedstock Values in China

This week, Shandong's upstream feedstock Formaldehyde price remained constant. The Formaldehyde market fluctuated and consolidated this week after experiencing minor changes over the previous two months. Despite the recent fluctuations, stabilization, and general cost support of Methanol, the Formaldehyde market mainly was constant. It was challenging to increase downstream demand while preserving just-in-time purchasing. The Formaldehyde market transaction was widespread, and the market stayed stable.

The spot market of Polybutylene Terephthalate declined in a limited range, the domestic Methanol market fell slightly, and the raw coal market dragged the Methanol upcoming atmosphere. Although the production companies in the primary producing regions have undergone improvements and are now exhibiting some optimism, the market was not in a good mood, social warehouse deliveries were still insufficient, and inventory continued to build up. The prices hover around USD 3080.00/ton of Polybutylene Terephthalate IV 1.2 IM CFR Shanghai with a stable inclination of 0.7%.

Although there is still a chance of a worldwide economic crisis, fuel oil prices are declining, and the market has switched its attention back to the fundamentals of volatility. Last week saw a fall in Crude Oil prices which caused feedstock Asian Mixed Xylene to decline in the outer disc. The supply of Mixed Xylene was constrained, there was little discussion of the local market, and the trend remained steady.

The Polybutylene Terephthalate market was primarily a wait-and-see situation, and intense haggling was prevalent. The market inventories are not appropriately assimilated. The Polybutylene Terephthalate market was unviable, and it was more challenging to raise the price. As a result, the cheap shipping price is maintained within the market. The demand from downstream lumber mills has been sluggish, and the domestic Methanol market has recently been volatile. As a result, the Formaldehyde expert at Chem Analyst believes that Polybutylene Terephthalate prices in Shandong will primarily decline in the coming months.