Price trend

According to data monitoring by SunSirs, as of November 24, 2023, the domestic market price of MEK was referenced at 7,483 RMB/ton. Compared with November 1, 2023 (reference price of MEK was 8,100 RMB/ton), the price was reduced by 517 RMB/ton, a decrease of 7.61%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that from November (11.1-11.24), the overall domestic MEK market had shown a weak downward trend. There was insufficient effective support in the MEK market, and the market focus was constantly moving towards the low-end. As of November 24th, the domestic MEK market price was around 7,300-7,750 RMB/ton, and the lower price in Shandong region was around 7,000 RMB/ton.

Analysis of the main factors affecting the sustained downward trend of MEK market

In terms of demand: As November approached, the domestic market trading atmosphere for MEK had always been lukewarm, with relatively cold inquiries. The overall performance of downstream demand was poor, and the demand support for MEK was limited. There was a strong wait-and-see sentiment on the market, and the business owners had a bearish mentality.

On the supply side: Due to the slow transmission of supply and demand for MEK, the shipment of MEK was hindered. Although the overall production enthusiasm of the factory was average and some devices were shut down for maintenance, there was still some supply pressure on the supply side, and it was also difficult for the supply side to effectively support the recovery of the MEK market.

Market outlook

As of November 24, the trading atmosphere of MEK on the market was still weak, and downstream demand followed cautiously. Downstream purchases were mainly on on-demand and as needed. The MEK Data Analyst from SunSirs believes that in the short term, the market for MEK will mainly adjust to be weaker in a narrow range, and the specific trend still needs to pay more attention to specific news changes on the supply and demand side.

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