What is driving the recent surge in perchlorethylene prices in China?

What is driving the recent surge in perchlorethylene prices in China?
Perchlorethylene prices in China have spiked dramatically, with a single-day jump of 36% pushing ex-works quotes to 16,375 yuan/ton in September 2021, up 178% from early August and 379% year-on-year. The core driver is severe supply tightness. China relies on imports for 40-50% of its perchlorethylene, but hurricane-related disruptions in July slashed import volumes to under 60 tons versus a normal 7,000-10,000 tons. Domestic plant turnarounds compounded the shortage, while downstream demand for R125 refrigerant, which accounts for roughly 80% of consumption, remained robust ahead of the September-October stocking season for air conditioner and refrigerator makers. Inventories dropped to historic lows, and with overseas production cuts persisting, prices are expected to stay elevated or climb further through year-end.