What is driving the recent price trend of tetrahydrofuran in China?

What is driving the recent price trend of tetrahydrofuran in China?
Chinese THF prices held steady in early September, with mainstream dealer quotes around 13,000 yuan per tonne, supported by firm upstream costs. Feedstock BDO traded at roughly 11,643 yuan per tonne, up 9.45% year-on-year, while maleic anhydride rose 5.4% week-on-week to about 7,800 yuan per tonne. Downstream spandex prices inched up 0.37% to around 34,250 yuan per tonne, supporting buyer sentiment. The market outlook points to a modest upward drift through late September, driven by cost support and steady downstream procurement. However, the industry remains fragmented, with many small producers, so price gains may be capped by ample supply availability and competitive dynamics among regional suppliers.