Throughout February xxxx, the Chinese market for Dipropylene Glycol Monomethyl Ether (DPM) experienced an ongoing upward trajectory driven by a scarcity in supply and reinforced cost support originating from feedstock propylene oxide and methanol. The pricing dynamics of DPM were significantly impacted by shortages in the raw material propylene, a consequence of maintenance operations at various plants during the spring festival. Additionally, the production costs of DPM were further affected by uncertainties related to upstream crude oil, influenced by the ongoing Middle East ceasefire.
In the terms of supply, the Chinese DPM market has witnessed a consistent upward trend, driven by low inventory levels and a scarcity of raw materials. This stable ascent was primarily shaped by maintenance shutdowns affecting various feedstock Propylene units during the Chinese New Year. Prominent units, including SINOPEC Guangzhou Company, Sinopec Yangzi Petrochemical, Sinopec KPC PC JV, Sinopec Sabic Tianjin PC, Sinopec...
