SunSirs: After The holiday, the MEK Market Was Weak and Declining (May 4-9)
May 10 2023 09:51:59 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of May 9, 2023, the reference price of domestic MEK market was 8,100 RMB/ton, which was 266 RMB/ton lower than that of May 4, 2023 (8,366 RMB/ton), with a decline of 3.19%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that after the return of the labor holiday (5.4-5.9), the overall situation of the domestic MEK market showed a weak and declining trend. After the holiday, the downstream demand for MEK remained average, and the demand for MEK was not improved compared to before the holiday. The overall MEK market remained stagnant. Influenced by the continuous shipping pressure, some MEK manufacturers began to sell goods at a discount, and the factory also had some supply pressure. Therefore, on the 8th and 9th, the overall MEK market started to run downward, and the MEK price fell by 100-300 RMB/ton. As of May 9th, the domestic MEK market price was around 7,700-8,300 RMB/ton.
Market outlook
As of the 9th, the buying atmosphere on the MEK market was relatively light, downstream procurement was cautious. The mentality of the operators was average. As of the 9th, the overall raw material end was relatively high, still providing some cost support for MEK. However, due to the constraints of the demand side, the current market as a whole continued to be weak. The MEK Data Analyst from SunSirs believes that in the short term, the market for MEK is mainly adjusted within 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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- 2024-03-15 SunSirs: Insufficient Demand Led to a Bearish Trend in the MEK Market
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