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SunSirs: MEK Market Fell Down Due to Poor Demand
July 08 2020 14:45:39SunSirs(John)

According to the price monitoring of SunSirs, as of July 7, the domestic average market price of MEK was referenced at 6,966.67 RMB/ton. Compared with the price on July 1, the average price fell by 67 RMB/ton, a decrease of 0.95%; and compared with the price on June 1, the price increased by 733 RMB/ton, an increase of 11.76%, and the maximum amplitude from June 1 to July 7 was 40.64%.

In July, the MEK market was weak and stable, but fell a few days later

The MEK market experienced a sharp rise in June, but market demand could not follow up after the price surge. Starting in late June, the MEK market price began to gradually decline, and basically stabilized after the market price fell to the equilibrium point at the end of June.

In July, the MEK market continued to operate steadily, the market situation remained weak, the enquiry atmosphere remained cold, the downstream demand support was limited, the factory inventory pressure was high, the industry was cautious to wait and see, and the downstream purchases were limited. As of the 7th, the offer of MEK in some areas fell slightly by 100-200 RMB/ton. According to the data monitoring of SunSirs, the factory quotation of MEK was quoted at 6,966.67 RMB/ton, compared with the price on July 1, the average price fell by 67 RMB/ton, a decrease of 0.95%; and compared with the highest market price in six months (June On the 12th, the market reference price was 8,766.67 RMB/ton), it fell 1,800 RMB/ton, a decrease of 20.53%. Compared with the market price on June 1, the price increased by 733 RMB/ton, an increase of 11.76%. At present, the MEK market in southern China is operating steadily. The factory reference price of MEK is 7,050-7,150 RMB/ton; the MEK market in eastern China is falling, and the factory reference price of MEK is 7,000-7,050 RMB/ton; compared with last weekend (3rd), falls by 100 RMB/ton; the MEK market in North China falls, and the factory reference price of MEK is 6,700-6,750 RMB/ton; compared with last weekend (3rd), it falls by 100 RMB/ton.

In terms of supply and demand, the maintenance of MEK factories has increased steadily since the beginning of July. The inventory pressure of the factories has decreased this week. As of now, the downstream demand side has not improved significantly, and the overall market atmosphere is limited.

On the upstream side, in June, the liquefied gas civilian market fluctuated and adjusted several times, and the overall price rose slightly. Entering July, the market price fell steadily and the average price fell by 10-30 RMB/ton. As of the 7th, the reference price of liquefied gas was 2,750 RMB/ton, which was a decrease of 0.36 %compared with July 1 (2,760 RMB/ton). At present, the price of liquefied gas in North China is temporarily stable. The price of civil liquefied gas in Luoyang Petrochemical is 2,600 RMB/ton (excluding packaging). The liquefied gas market in Shandong is mostly stable, and some refineries have slightly lowered their prices. At present, the quotation for residential liquefied gas in Qingdao refinery is 2,650 RMB/ton, and the quotation for civil liquefied gas in Jinan refinery is 2,850 RMB/ton.

According to the current market situation of MEK, it is expected that the MEK market will maintain a low level of operation in the near future, but it is heard that the stock of MEK is mainly in the secondary market. Therefore, due to factors such as low inventory levels and low operating rates of multi-factory MEK parking, some distributors recently want to increase the factory price of MEK. The future market may be likely to drive the overall market of MEK higher, and the specific trend still needs to pay more attention to the relationship between supply and demand.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.

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