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SunSirs: MEK Rose More Than 6% in a Single Day under the Support from Export

April 15 2021 14:01:05     SunSirs (John)

According to the data monitoring of SunSirs, as of April 14, the average factory price reference of domestic MEK market was 8,666 RMB/ton. Compared with the previous working day (the reference average price of MEK on the 13th was 8,166 RMB/ton), the average price increased by 500 RMB/ton, or 6.12% in a single day; compared with the reference average price of MEK on the 1st (8,033 RMB/ton), the average price increased by 633 RMB/ton, or 7.88%.

Supported by exports, MEK prices rose

Before the Qingming Festival, the domestic MEK market rose slightly, the transaction atmosphere of MEK market was low, the purchase of downstream factories was difficult to improve, and the overall inventory pressure of domestic factories remained unchanged. After the Qingming Festival, the MEK market continued to rise slightly, but the market transaction atmosphere was still tepid, and the domestic downstream demand continued to be cold. On the 8th and 9th, the MEK price fluctuated downward, and then the market continued to be weak.

Until Monday (12th), MEK export gave some support to the market, MEK market began to rise, the market transaction atmosphere improved, and the overall inventory pressure of domestic factories decreased. On the 14th, affected by the parking of MEK factories in East China and supported by the continuous increase of exports, the spot supply of MEK was tight, and the ex factory price of MEK rose sharply. The factory price of MEK in Shandong rose to 8,800 RMB/ton, up 700 RMB/ton from the 12th of the week. As of the 14th, the phenomenon of closing the market in the market increased. On the 14th, the domestic MEK factory price reference was 8,500-9,000 RMB/ton, the average price was 8,666 RMB/ton, compared with 13th, the daily increase was more than 6%, and the cumulative increase in half month was 7.88% compared with the beginning of the month.

MEK market is mainly stable in the short term and still has power to rise in the long term

At present, the recovery of domestic MEK terminal downstream is still relatively slow, and the operating rate of downstream factories is low as a whole. MEK prices are mainly supported by exports, while domestic downstream support is weak. At present, MEK factories pay more attention to export orders. Therefore, the MEK analysts of SunSirs expect that the probability of the market price of MEK will continue to rise substantially in the short term is relatively small, and will maintain high and stable operation. At the end of April and early May, the downstream physical manufacturing industry will recover in a large range. The timing of demand within MEK will come, and the action force of MEK market will increase, and the market price is expected to rise again.     

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