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Asian Glacial Acrylic Acid: Stable prices persistamid ongoing demand / China's Formosa CAA plant starts maintenance Nov. 15 / Propylene prices down $5/mt on day at $840/mt CFRChina Nov 18

Asian Glacial Acrylic Acid: Stable prices persistamid ongoing demand / China's Formosa CAA plant starts maintenance Nov. 15 / Propylene prices down $5/mt on day at $840/mt CFRChina Nov 18

Nov 22, 2024

Chinese propylene oxide buyers held a wait-and-see stanceon the day Nov. 19, as demand for key downstream productssuch as superabsorbent polymers, UV light curing agents andpolyacrylamide remained average, with buyers prioritizing thefulfillment of existing contracts. "The market is so quiet... the downstream buyers purchase ondemand [which is not much]", a Chinese domestic trader said.In plant news, China's Formosa halted operations at its340,000 mt/year crude acrylic acid plant in Ningbo Nov. 15, acompany source said. "[The maintenance] is scheduled to [start] today," thecompany source said.Glacial acrylic acid capacity dropped as a result, althoughtrading prices remained stable. GAA ex-works north and east Chinastable day on day and week on week at Yuan 6,900/mt Nov.19, considering a tradable indication heard at Yuan 6,850-7,000/mt.Upstream, propylene prices were down $5/mt day on day at$840/mt CFR...

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