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SunSirs: Crude Oil Plunge? Demand for Methyl Ethyl Ketone Marketp Is Little

March 13 2020 11:19:23     SunSirs (John)

Price trend

According to the monitoring of SunSirs, as of March 11th, based on the quotations of several sample companies, the reference price of the domestic MEK market ex-factory is around 7,300-7,800 RMB/ton.

 

Analysis review   

Since 2020, the methyl ethyl ketone market has been sluggish, and the market price has dropped from a high of 9,200 RMB/ton to around 7,500 RMB/ton. The lowest price in the process has fallen below the 7,300 RMB/ton. In March, domestic consumption of methyl ethyl ketone continued to recover slowly. Methyl ethyl ketone was mostly digested by foreign trade, and factory inventories were temporarily eased. Methyl ethyl ketone prices rose slightly, mostly due to traders' prices. The market as a whole is still oversupply. The downstream rework rate is low, and demand is still unsatisfactory. Recently, the price of crude oil has fluctuated greatly, and the overall downstream purchasing sentiment in the market has been cautiously intensified. At present, the methyl ethyl ketone market in Jiangsu region is temporarily stable and running. The factory quotation range is 7,400-7,500 RMB/ton, and some are slightly higher near 7,600 RMB/ton. Market transactions tend to be at low end prices, and the overall inquiry and purchasing atmosphere is weak. The methyl ethyl ketone market in Ningbo is stable, and the market transaction atmosphere is cold. The factory ex-factory price is around 7,500-7,600 RMB/ton, and the market negotiation is near 7,350-7,450 RMB/ton. Corporate purchases have declined, and there has been little heard of real transactions, and they tend to favor low-end prices. The methyl ethyl ketone market in South China is temporarily stable, and some traders' offers have remained stable. The main range is around 7,650-7,800 RMB/ton. There are few firm transactions heard, and the supply side mainly stabilizes prices.

Industrial chain: Starting at the beginning of last week, the LPG market started to fall this week after experiencing 4 consecutive days of rise. The average price of the LPG market on March 2 was 3,650 RMB/ton, and the average price of 6 days was 3,766.67 RMB/ton, an increase of 3.2%. On the 10th, the average price of the LPG market was 3,483 RMB/ton. Compared with the 6th (3,766.67 RMB/ton), the price dropped by about 284 RMB/ton. At present, the mainstream price of LPG in Shandong is around 3,250-3,700 RMB/ton, and market transactions are normal; the market price of LPG in northern China is lowered, and the mainstream price is about 3,500-3,650 RMB/ton, market transactions are normal.

Industry: According to the price monitoring of SunSirs on March 11, 2020, there were a total of 17 commodities in the 58 commodities price rise and fall list, which were concentrated in the steel sector (a total of 5) and the non-ferrous sector (a total of 5), with an increase of more than 5%. Of the commodities are mainly concentrated in the energy sector; the top three commodities are WTI crude oil (10.38%), soybeans (2.23%), zinc (1.56%). There were a total of 21 types of goods that fell month-on-month, focusing on energy (a total of 7 types) and building materials (a total of 3 types). The top 3 commodities of decline were coke (-3.01%), fuel oil (-2.44%), and methanol (-2.32). %). The average daily increase or decrease was 0.14%.

 

Market outlook

The data analyst of SunSirs believes that: crude oil has fallen sharply, and the industry has waited and waited, and terminal demand follow-up has been limited. It is expected that the recent MEK market will be weakly organized and operated, and it may not rule out a slight overcast.

 

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

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