SunSirs: The MEK Market Was Upward Overall in June (June 1-27)
June 28 2023 09:35:08 SunSirs (John)
Price trend
According to data monitoring by SunSirs, as of June 27, 2023, the domestic market price of MEK was referenced at 7,366 RMB/ton. Compared with June 1, 2023 (the reference price of MEK was 6,850 RMB/ton), the price increased by 516 RMB/ton, an increase of 7.54%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that since June (6.1 to 6.27), the domestic MEK market showed an overall upward trend. In early June, the ether carbon four market of MEK raw material increased, and the support provided by the raw material cost end to MEK was strengthened. The overall MEK market experienced a broad upward trend with the trend of raw materials. On June 10th, the MEK market rose to a month high, with a reference to around 7,466 RMB/ton, and a 10-day increase of 9%. Subsequently, due to the average impact of demand, the overall market of MEK experienced a slight decline. As of June 15th, the market price of MEK was based on 6,700-7,600 RMB/ton, with an increase of 8.03% in early June. In late June, before the Dragon Boat Festival, the stock of MEK downstream before the festival increased slightly, driving the MEK market up in a narrow range. As of June 27, the MEK market price was around 6,900-7,800 RMB/ton.
Market outlook
Towards the end of the month, the trading atmosphere on the MEK market was average, new orders being traded were general, and downstream demand was cautious. SunSirs’ MEK data analysts believe that in the short term, the domestic MEK market will mainly adjust in a range, and the specific trend needs to pay more attention to changes in supply and demand news.
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- 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
