果酱视频

Globally, Propylene Oxide (PO) prices stayed weak in April 2025, dragged down by low downstream demand, cheap feedstock propylene, and ongoing global trade issues. Oversupply and high stockpiles kept the market mood down.

In Asia, PO demand was weak throughout April, especially in polyether polyol and polyurethane applications. The construction slowdown continued to reduce consumption in China, with a 11.1% year-on-year drop in Q1 real estate sales dampening orders. Buyers mainly focused on short-term needs, and market transactions remained limited. The overall manufacturing slowdown and declining export orders due to escalating U.S. tariffs added further pressure.

Some plants, like Zhejiang Petroleum & Chemical (ZPC) and Satellite Chemical, went into maintenance, but it barely dented supply. Stockpiles stayed high, and producers ran plants cautiously, with lower output rates. Guangxi Petrochemical鈥檚 new PO unit, set to start soon, raised oversupply worries. Qingdao port congestion caused small shipment delays but didn鈥檛 shift the market much.

Feedstock propylene costs across Asia stayed soft due to improving PDH supply and muted buying momentum. China has shifted toward domestic production, cutting back on imports. In 2024, China imported just 266,500 tons, with import reliance dropping to 5%, signaling increased self-sufficiency and fewer openings for foreign suppliers.

In India, PO demand stayed subdued due to weak offtake in construction-related applications. A 34% drop in new residential launches across major cities in Q1 2025 reflected developer caution amid high input costs. Buyers remained hesitant, focusing on small-scale, immediate needs.

In Japan, PO consumption also stayed low. Labor shortages, delayed infrastructure work, and slow new project approvals reduced downstream demand. Export orders to regional buyers have weakened, keeping market activity light.

In Europe, the PO market remained weak, with Germany and the Netherlands continuing to grapple with excess supply. While the closure of the PO11 unit at the Maasvlakte site by LyondellBasell and Covestro helped cut some capacity, additional shutdowns are still necessary to address the region鈥檚 oversupply of more than 700,000 tonnes.

Downstream consumption in polyols and polyurethane sectors stayed limited due to soft construction activity. Port congestion at Hamburg and Rotterdam slowed exports, and U.S. tariffs further reduced overseas demand.

In the U.S., PO demand stayed mixed. Polyol and polyurethane sectors remained under strain from the ongoing housing slowdown. Though automotive sales saw a brief lift, it did not significantly boost PO consumption. Buyers stuck to cautious procurement, amid high interest rates and limited construction momentum.

As per 果酱视频, PO prices are expected to remain under pressure. High inventory, weak downstream demand, and persistent trade barriers will likely continue to limit buying activity. Unless there is a strong revival in construction or a resolution to trade tensions, prices may continue to slide into Q2.