SunSirs: The MEK Market Was Weak and Declined (May 12-18)
May 19 2023 11:23:57 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of May 18, 2023, the reference market price of domestic MEK was 7,733 RMB/ton. Compared with May 12, 2023 (the reference price of MEK was 8,033 RMB/ton), the price decreased by 300 RMB/ton, or 3.73%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that this week (5.12-5.18), the overall domestic MEK market showed a weak and declining trend. This week, the price of MEK raw material side fell back from a high level, and the cost support for MEK was loosened. The market price of MEK was mainly followed the downward movement of raw materials, and the market price fell by 200-400 RMB/ton. The overall performance of downstream demand for MEK remained average, new orders was light and transmission between supply and demand was slow. As of May 18, the domestic MEK market price was around 7,400-8,000 RMB/ton, and the lower end price was around 7,100-7,200 RMB/ton.
Market outlook
As of May 18th, the overall trading atmosphere in the MEK market was average, and there was a certain wait-and-see sentiment in the market. Downstream stocking was cautious. SunSirs MEK Data Analysts believe that in the short term, the market trend of 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.
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
