SunSirs: In 2022, the MEK Market Fell in Shock-Ⅰ

Price trend of MEK in 2022

According to the data monitoring of SunSirs, as of December 31, 2022, the average ex-factory price of domestic MEK market was 8,533 RMB/ton. Compared with that of January 1 (the reference price of MEK was 11,533 RMB/ton), the price was reduced by 2,900 RMB/ton, a decrease of 26.01%.

Analysis of MEK data in 2022

It can be seen from the monitoring data of SunSirs that the overall operating rate of domestic MEK plants in 2022 did not change much, with the operating rate of about 60% - 70% in the year.

In terms of MEK production in 2022, the MEK production in May and June of 2022 was relatively high, the production rose, the downstream demand could not follow up in time, the supply of MEK was under pressure, and the slow transmission of supply and demand was also the main factor affecting the market trend of MEK in May and June.

Export

In terms of exports in the first half of 2022, China's cumulative export volume of MEK in the first half of 2022 was 134,700 tons, up 61.50% year on year. Among them, except in February, the export volume decreased due to the impact of the Spring Festival holiday and the delay of some shipping schedules, the export volume in other months was significantly higher than last year's level.

In the first half of 2022, although the market price of MEK rose first and then fell, the market price of MEK remained relatively high in the first half of the year. At the end of June, the market price of MEK remained above 10,000 RMB/ton. In the first half of the year, the demand of MEK market was commonly boosted, and the overall output was also on the high side. The main factor supporting the market was the large increase in exports.

Future forecast and outlook for 2023

The year 2022 had quietly waved goodbye to us. At the end of 2022, the performance of the downstream demand side of MEK was still average, and the cost support brought by the rising cost of raw materials was acceptable, but there was no continuous increase in the demand side. It is expected that the MEK market is likely to be sorted and operated in a range in the beginning of 2023. The specific trend of the market also needs to pay more attention to the supply and demand side and the specific news changes of the market.

In 2023, we have ushered in a new year. In the face of the macro benefits brought by the country to the market, the operating rate of the downstream terminal market of MEK in 2023 may be improved. The arrival of the benefits of the real estate industry will bring about the recovery of the terminal coating and other industries. Therefore, the MEK statistician of SunSirs believes that in 2023, the MEK market should embrace the spring with enough confidence, let us look forward to it together!

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