SunSirs: This Week, the MEK Market Was Weak and Declined (June 12-16)
June 19 2023 13:58:02 SunSirs (John)
Price trend
According to data monitoring by Business Society, as of June 9, 2023, the domestic market price of MEK was referenced at 7,266 RMB/ton. Compared to June 12, 2023 (reference price of MEK was 7,466 RMB/ton), the price was reduced by 200 RMB/ton, a decrease of 2.68%.
Analysis review
From the data monitoring chart of the Business Society, it can be seen that in early June, the MEK market saw a broad increase supported by favorable costs, but the performance of downstream demand for MEK was average. After entering this week, due to the slow release of demand in the MEK market, the market had started to decline from a high level and some factories and suppliers had lowered the prices of MEK by 100-300 RMB/ton. As of 16th, the trading atmosphere on the MEK exchange was relatively light, and new orders were relatively cautious in trading. As of June 16th, the domestic market price of MEK was around 6,900-7,300 RMB/ton, and the higher price was around 7,600 RMB/ton.
Market outlook
As of the 16th, the overall performance of the MEK market was weaker, with insufficient support from the downstream demand side. In addition, due to the expected some production, the operation of MEK on the market was mainly cautious. According to the MEK data analyst of the Business Society, in the short term, the domestic MEK market is mainly subject to narrow range adjustment and operation, and the specific trend still needs to pay more attention to changes in supply and demand news.
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- 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
