Shanghai (China): In February xxxx, the price of Propionic Acid experienced a notable upswing in China&#xx;s domestic market, marking a departure from its previous downward trajectory. This surge was primarily linked to heightened feedstock ethylene costs stemming from widespread plant shutdowns globally. Additionally, robust global crude oil prices, propelled by geopolitical tensions and a record surge in crude oil imports by China, contributed significantly to this price escalation. The WTI and Brent benchmarks reached their peak levels in over two months, exerting further pressure on Propionic Acid production costs. Moreover, improved downstream demand from the food industry, a key consumer of Propionic Acid, acted as an additional catalyst in driving up the Propionic Acid price. Together, these multifaceted factors culminated in the notable price hike witnessed in February.
The demand for Propionic Acid experienced a notable uptick in China as the downstream food industry showed...
