N-propanol prices in China recorded a dramatic weekly surge of **.** during the week ending March **, ****, marking one of the sharpest prices moves ever seen for the solvent chemical in the domestic market. The extraordinary advance was driven by a confluence of the Strait of Hormuz supply shock, soaring ethylene feedstock costs, tightening domestic inventories, and aggressive producer withholding of stock amid rapidly escalating geopolitical risk.
The Middle East conflict, which began with joint US-Israeli strikes on Iran on February **, has caused a near halt in tanker movements through the Strait of Hormuz, disrupting nearly ** million barrels per day of crude and product exports 鈥� the largest supply disruption in the history of the global oil market. As of March ****, the petrochemical market has shifted from a state of structural oversupply to acute, panic-driven scarcity, with mega-complexes in Saudi Arabia,...
Leave a Comment
Comments (0)