Price trend
According to data monitoring by SunSirs, as of July 25, 2023, the domestic market price of MEK was referenced at 7,400 RMB/ton. Compared with July 17, 2023 (reference price of MEK was 7,333 RMB/ton), the price increased by 67 RMB/ton, an increase of 0.91%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that since July (7.1-7.25), the overall market situation of domestic MEK showed a "first decline and then rise" trend. In early July, the overall MEK market continued to decline, with insufficient downstream demand. New orders for MEK were light, and shipments were slow. Some factories and suppliers started actively shipping and adjusted MEK prices downwards. In early July, the cumulative decrease was about 200 RMB/ton, a decrease of 1.82%.
In late July, the MEK market experienced a rebound. In some regions of China, MEK plants were shut down for maintenance, on-site supply was reduced, and spot circulation was tight. The supply side pressure was relatively low, providing support for the upward trend of the MEK market. In addition, the upward trend of the crude oil and liquefied gas industry chain also gave confidence to the MEK industry. Some MEK factories and suppliers increased the price of MEK, with a cumulative increase of around 200 to 400 RMB/ton in late July. As of July 25th, the domestic market price of MEK was around 7,300-7,800 RMB/ton, with a 2.78% increase in late July.
Market outlook
As of July 25th, the trading atmosphere on the market for MEK was light, with downstream buyers mainly returning to on-demand procurement. The wait-and-see sentiment on the market gradually increased, and the overall shipment rhythm of MEK was average. The overall supply and demand showed a slight stalemate. According to the MEK data analyst of SunSirs, in the short term, the domestic MEK market will mainly adjust and operate in a narrow range, and the specific trend still needs to pay more attention to changes in news on the supply and demand side.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.