More factories scaled down output with pressure from losses and inventory

More factories scaled down output with pressure from losses and inventory. The whole value chain saw great production curtailment in Jul, with run rate down to 50-60%. The pressure of mounting inventory weakened after production was cut. Sales improved. The competition under low prices dwindled under losses. Price gradually touched bottom. Price of BDO started stabilizing from mid-Aug. As a result, the whole value chain is estimated to touch bottom in short term.