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SunSirs: In 2022, the MEK Market Fell in Shock-Ⅱ
January 12 2023 10:32:29SunSirs(John)

Review of MEK market in 2022

The first half of 2022 (1.1-6.30)

In the first quarter of 2022, the overall market of MEK was rising. After the New Year's Day in January, the domestic MEK spot supply was tight, and the tight spot supported the market's upward movement. The MEK market rose 8.38% in January. After the Spring Festival in February, the market of MEK started at a low level. The tight supply supported the market of MEK to continue to rise. The demand performance was general, and the transmission of supply and demand was slow. The market of MEK fell in the cold in late February, and the overall increase of MEK in February was only 0.27%. In March, the rising market at the raw material end supported the cost of MEK, the domestic logistics gradually recovered, and the downstream demand also improved to a certain extent. In late March, the export performance was good, and the pressure on the supply side of MEK was low. Under the favorable conditions, MEK rose 22.74% in March. MEK rose 29.48% in the first quarter.

In the second quarter of 2022, the MEK market as a whole fell. In the first ten days of April, the MEK market was sorted out at a high level, and the downstream demand was general, and the wait-and-see attitude was strong. In the last ten days, the MEK market was operating downward in a narrow range. In May, the decline of MEK market intensified, and the weak downstream demand was difficult to support the high market of MEK. The supply of MEK was under pressure, and the contradiction between supply and demand became more obvious. The decline of MEK in May reached 24.88%. After the Dragon Boat Festival in June, the MEK market rose at a low point supported by the cost side. However, the downstream demand remained sluggish, and the MEK market fell rapidly again. The overall decline of MEK in June ended with a monthly decline of 3.19%.

The second half of 2022 (7.1-12.31)

In the third quarter, the domestic MEK market rose and fell. In July, the downstream demand side of domestic MEK was still insufficient, and the transmission of supply and demand was blocked, which was constrained by the demand side. In July, MEK fell by 18.15%. In the first ten days of August, the focus of the MEK market continued to move downward. According to the data monitoring of the SunSirs, on August 10, the market price of MEK referred to 7,800 RMB/ton, which had fallen to the lowest point in the current year. From the middle and late August to the end of September, the market of MEK raw materials continued to rise, supported by the cost side, the overall start of MEK was low, and the support of the supply side was also strengthened. The market of MEK finally rebounded from a low point. The overall increase of MEK in August was 4.3%, and the increase of MEK in September was 9.59%. On September 30, the market price of MEK rebounded to around 9,900 RMB/ton.

In the fourth quarter, the domestic MEK market fell more than rose. After the National Day in October, the downstream demand was still weak, and the demand had not been supported for a long time. The supply side of MEK also had some shipping pressure. In addition, the cost support had also begun to loosen. The MEK market had opened a downward channel again, and the MEK fell 14.4% in October. In the first ten days of November, the market of MEK rose slightly again with the market of raw materials, but the rise could not be sustained due to demand constraints. From the late of November, the market of MEK was weak and downward again, and the growth of MEK in November was only 1.54%. In the middle of December, the MEK market continued to decline. As of December 30, the domestic MEK market price was around 8,533 RMB/ton, down 26.01% compared with the beginning of the year.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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