SunSirs: Demand Was Insufficient, and the MEK Market Fell in April (April 1-26)
April 27 2023 13:35:47 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of April 26, 2023, the reference price of domestic MEK market was 8,316 RMB/ton, compared with April 15, 2023 (the reference price of MEK was 8,600 RMB/ton), the price decreased by 283 RMB/ton, or 3.29%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that since April (4.1-4.26), the overall domestic MEK market showed a weak and declining trend. At the beginning of April, the domestic MEK market experienced a brief upward trend as a whole. Some devices in the MEK field were shut down for maintenance, and the tight supply of MEK spot supported the market stabilizing and consolidating after a narrow rise. However, the overall performance of downstream demand was general, which was dragged down by insufficient demand. Since the middle of April, the focus of MEK market was moving downward, and the overall market continued to run in a weak and downward direction. MEK industry had a weak mentality. As the end of the month approaching, the market was weaker. As of April 26, the domestic MEK market price was around 7,800-8,400 RMB/ton.
Market outlook
As of April 26th, the overall trading atmosphere on the MEK market was relatively light. Although the May Day holiday approaching, the overall inventory sentiment of downstream MEK was general, and new orders we.re mostly sold in volume and in demand. The MEK Data Analyst from SunSirs believes that in the short term, the MEK market is narrow consolidated, and the specific trend still needs to pay more attention to specific news changes on the supply and demand side.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
- 2024-04-22 SunSirs: Under Cost support, the MEK Market Was on the Rise
- 2024-04-03 SunSirs: Poor Demand Support, MEK Market Ended with a Decline in March
- 2024-03-26 SunSirs: Demand Was Weak and the Focus of the MEK Market Was Downward
- 2024-03-15 SunSirs: Insufficient Demand Led to a Bearish Trend in the MEK Market
- 2024-03-08 SunSirs: Supported by Supply and Demand, the Center of MEK Continued to Move Upwards at the Beginning of the Month
