SunSirs: The Domestic MIBK Market Was Adjusted in a Range in June
July 04 2023 11:19:54 SunSirs (John)
Price trend
In June, the domestic MIBK market fluctuated within a range, with an overall slight increase. The average price at the beginning of the month was 12,133 RMB/ton, and the average price at the end of the month was 12,261 RMB/ton, with a 1.1% increase within the month.
Analysis review
In mid to early June, Kailing Chemical's 15,000 ton/year MIBK plant was parking, and the market supply was expected to decrease. However, due to moderate inventory on site, the supply impact was not significant. After a slight increase in MIBK prices at the beginning of the month, the power was insufficient and the increase was limited. In the middle of the month, the bidding order volume of a large downstream factory increased. Holders were concerned about resource constraints in the later stage, and the price increase was limited. However, other downstream companies saw normal procurement and just needed to follow up, and the price increases were limited.
In late June, the terminal market continued to perform weakly, market volatility was limited and the pace of shipments was not smooth. Despite there was no inventory pressure, the trading situation was not optimistic.
The domestic MIBK production in June was 5,800 tons.
Market outlook
In July, Jilin Petrochemical's 15,000 ton/year plant was restarted, leading to an increase in MIBK's total supply. At the beginning of the month, some orders were delivered in a centralized manner, and the mentality of the shipper was still fair. In the later stage, the downstream operating rate will decrease, and the procurement volume will decrease. As of July 3rd, there were no major procurement expectations, and it is expected to operate to be weaker in July with little fluctuation.
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