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SunSirs: Due to the Imbalance between Supply and Demand, the MEK Market Fell More Than 9% in Eight Days

June 09 2021 14:18:12     SunSirs (John)

According to the data monitoring of SunSirs, as of June 8, the average ex-factory price of MEK in the domestic market was referenced at 8,000 yuan/ton. Compared with the price on June 1, the average price was lowered by 800 yuan/ton, a decrease of 9.09%. Compared with the price on May 1, the average price was lowered by 933 yuan/ton, a decrease of 10.45%.

In May, the domestic MEK market rose sharply and then gradually declined.

Due to the imbalance between supply and demand, the MEK market fell more than 9% in eight days

Entering June, the overall trading of the domestic MEK market continued the deserted atmosphere at the end of May, and the overall market was mainly organized to run weakly. Starting on the 7th, the ex-factory price of MEK in Shandong dropped sharply, by around 1,000 yuan/ton, and the low-end quotation of MEK in Shandong dropped to 7,600 yuan/ton. The sharp decline in the market affected the mentality of the industry, and the downstream wait-and-see sentiment increased. The downstream only maintained just-needed purchases, the transaction volume was relatively small, and the supply sources in the market increased. Subsequently, on June 8, the MEK market in Jiangsu also weakened and fell, with a downward range of 200-500 yuan/ton. At present, the overall performance of the MEK market is showing an imbalance between supply and demand, and the industries are cautious and mainly wait and see. As of the 8th, the domestic ex-factory price of MEK was around 7,600-8,300 RMB/ton, and the average price was 8,000 RMB/ton. Compared with the price on June 1, the average price was lowered by 800 RMB/ton, a decrease of 9.09%.

On the upstream side, entering June, the domestic liquefied gas market in Shandong region rose first and then fell, and overall declined slightly. On June 3 and 4, market prices in the Shandong region rose slightly and then stabilized. On the 7th and 8th, the market price declined. As of June 8, the liquefied gas civil market in North China was weakly consolidated, with some downward adjustments, and the market transaction atmosphere was general; the liquefied gas civil market in Shandong was steadily lowered, the market transaction atmosphere was mild, and the overall inventory of manufacturers was at a controllable level, and the manufacturers had no obvious pressure. According to the data monitoring of SunSirs, on June 8, the reference price of liquefied gas was 4,126.67 yuan/ton, which was a 0.40% decrease compared with June 1 (4,143.33 yuan/ton).

MEK may still fall in the future

From the current point of view, the market supply of MEK has increased, and mainstream factories have started operations one after another. The overall operating rate is relatively high. The game between increased supply and insufficient demand continues, and the concerns of MEK industries are also increasing. Therefore, the MEK analyst of SunSirs believes that in the short term, the domestic MEK market will continue to run weakly, and it is not ruled out that some areas will continue to decline slightly.

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