Price trend
According to data monitoring by SunSirs, as of February 22, 2024, the domestic market price of MEK was referenced at 8,050 RMB/ton. Compared with February 18, 2024 (reference price of MEK was 7,766 RMB/ton), the price increased by 284 RMB/ton, an increase of 3.65%.
Analysis review
In terms of cost
From the data monitoring chart of SunSirs, it can be seen that after returning from the Spring Festival holiday in February, the domestic MEK market had experienced a steady upward trend. The overall focus of negotiations in the MEK market was constantly approaching high levels, with a four-day increase of over 3%, and the overall market price had risen by about 200-300 RMB/ton.
Let's take a look at the main influencing factors that support the market trend of MEK:
In terms of cost: After the Spring Festival, the overall market situation of the ether carbon four market for MEK raw materials had increased compared to before the Spring Festival, and the price of raw materials had increased by about 100-200 RMB/ton after the festival.
In terms of supply: After the holiday, some domestic MEK plants had not started construction yet. The overall supply pressure in the MEK plant was relatively low, and the pressure on spot inventory was not high, supporting strong quotations from MEK factories and suppliers.
In terms of demand: After the holiday, downstream factories of MEK had started construction one after another, and downstream demand was gradually recovering. The demand side had also brought some confidence to the market.
Market outlook
As of February 22nd, the overall trading atmosphere in the MEK market had been mild, and logistics across the country had also resumed normal shipments. The overall inquiry atmosphere in the market had gradually become active, and there were good expectations in the market. The MEK data analyst from SunSirs believes that in the short term, the domestic MEK market is mainly stable and stronger, and the specific trend still needs to pay more attention to the specific news changes on the supply and demand side.
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