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SunSirs: On August 1, the Domestic MIBK Market Fluctuated in a Range

August 02 2022 15:03:16     SunSirs (John)

Price trend

At the beginning of the month, the information on the market was very limited. The domestic MIBK market was adjusted and operated in a range. The demand on the market was generally flat, and the reference for negotiations was 10,200-10,400 RMB/ton.

Analysis review

On the 1st, the acetone market on the raw material side was strong. The two major factories in East China raised the price by 100 RMB/ton and executed 4,900 RMB/ton. The negotiated value of the entire East China market was 4,900 RMB/ton. Domestic factories might have maintenance plans in August, because despite the high inventory at the port, the supply chain was expected to decrease in August, and the raw material acetone market performed strongly in August. However, the strong raw material side has not affected the downstream MIBK market, mainly due to the lack of terminal orders. Holders mainly made steady progress and paid attention to the negotiation of actual orders on the market.

Market outlook

There is no pressure on corporate inventories for the time being, transactions are mainly based on orders, and the circulation of intermediate trade is limited. Holders make stable offers, and downstream follow up just on demand. In the short term, the MIBK market fluctuates, and the reference price for negotiation is 10,200-10,300 RMB/ton.

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