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The monthly contract price of butanediol (BDO) in the Korean domestic market is lower than the April settlement price, falling from the peak.
It is expected that the spot market will also weaken in the future.
The final contract price in South Korea was determined to be 4300-4600 US dollars/ton DEL, lower than the 4600-4900 US dollars/ton DEL in April.
An end user in South Korea said: "After months of rising, the contract price has finally loosened.
This is a happy thing.
" Thespot price reached its peak in late March, about 4000 US dollars / ton CFR China After that, the price fell back to 3650 US dollars/ton CFR China.
Market participants generally expect that the spot market will weaken further because China's domestic market will continue to decline as supplies become more abundant.
An Asian supplier said: “The Chinese market is still weakening, so the broader Asian market should continue to follow up.
”However, due to the prevailing supply tightness in Europe and the United States, some participants expect the adjustment in Asia to be short-lived .
As spot parcel prices in Asia soared, inquiries from Europe continued to penetrate Asia.
A manufacturer in Northeast Asia said: "We are still receiving a steady stream of inquiries for spot goods.
" Some manufacturers expect that some goods will be shipped from Asia to Europe, and it will take some time to meet their demand.
"Who knows, maybe the Asian market will soon stabilize and reverse upward.
" Another seller in Northeast Asia said.
Transfer from: China Plastics Online
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