Busan (South Korea): After a mid-March xxxx, Asia&#xx;s domestic n-hexane market experienced an optimistic turnaround following a period of decline. This recovery was underpinned by favorable cost structures from feedstock naphtha and a notable increase in demand from the food industry downstream. The surge in global crude oil prices, driven by geopolitical tensions in the Middle East, exerted pressure on production costs for n-hexane manufacturers, primarily due to elevated feedstock naphtha prices. Despite this, buying enthusiasm remained moderate, contributing to rising consumer prices and signaling a gradual revival in the food industry. The United Nations Food and Agriculture Organization reported a rebound in world food prices in March, particularly in vegetable oils like sunflower oil, hinting at a brighter outlook for the n-hexane market in Asia as the food industry continues to improve in countries like South Korea, China, and others.
Downstream oil extraction witnessed...
