SunSirs: The MEK Market Was Running Down overall This Week (June 15-21)
June 22 2022 09:25:27 SunSirs (John)Price trend
According to the data monitoring of SunSirs, as of June 21, 2022, the average ex-factory price of the domestic MEK market was 10,866 RMB/ton, compared with June 14 (the ex-factory price of MEK was 11,766 RMB/ton), down 900 RMB/ton, or 7.65%.
Analysis review
It can be seen from the data monitoring chart of SunSirs that in the second half of June (6.15-6.21), the overall domestic MEK market continued to decline. Beginning on June 15, due to the insufficient follow-up of downstream demand and the slow transmission of supply and demand, the quotations of MEK factories were adjusted downward one after another, and the market focus continued to drop. In addition, the international crude oil prices fell in the previous period, the market support was loose, and the industry players were frustrated. Traders' quotations also followed the market, and the trading atmosphere in the market was quiet. As of the 21st, the domestic MEK market reference price was around 10,800-11,000 RMB/ton, and the low-end price fell below the 11,000 RMB/ton mark. The cumulative price for the six days was lowered by 500-800 RMB/ton, a drop of less than 7%.As of the 21st, the downstream demand in the MEK market was still sluggish, and the overall buying interest in the market was general, and the transactions were mostly negotiated.
On the upstream side, recently (6.15-6.21), the domestic LPG market as a whole showed a weak downward run. According to the data monitoring of SunSirs, on June 21, the reference price of LPG was 6,070 RMB/ton. Compared with June 14 (6,212.50 RMB/ton), the price was lowered by 124.5 RMB/ton, a decrease of 2.06%.
Market outlook
At present, the trading in MEK is light, and the market is mainly running weakly. The MEK data engineer of SunSirs believes that in the short term, the domestic MEK market is weak and consolidating, and more attention needs to be paid to the basic changes in the supply and demand of MEK.
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- 2024-03-15 SunSirs: Insufficient Demand Led to a Bearish Trend in the MEK Market
- 2024-03-08 SunSirs: Supported by Supply and Demand, the Center of MEK Continued to Move Upwards at the Beginning of the Month
- 2024-03-05 SunSirs: Multiple Positive Factors, the MEK Market Rose by Over 6% in February
