SunSirs: Since September, the MEK Market Had Seen an Overall Upward Trend (September 1-25)
September 27 2023 15:10:39 SunSirs (John )
Price trend
According to data monitoring by SunSirs, as of September 25, 2023, the domestic market price of MEK was set at 8,850 RMB/ton. Compared with September 1, 2023 (reference price of MEK was 7,983 RMB/ton), the price increased by 867 RMB/ton, an increase of 10.86%.
Analysis review
From the data monitoring chart of the SunSirs, it can be seen that since September (9.1-9.25), the overall domestic MEK market showed a steady upward trend. Entering September, for the MEK market, the "Golden September Effect" had emerged, and the MEK market was steadily rising since the beginning of the month. In the early stages, the raw material market rose, and MEK received support from the cost side. The overall market rose with the materials trend, with a 10 day increase of 2.92%. In the mid stage, the market center continued to move upwards, with good downstream demand. The pre holiday stocking rhythm had started, and the supply and demand transmission was smooth, with a ten day increase of 7.71%. In the later stage, the MEK market continued to consolidate at a high level. As of September 25th, the domestic MEK market price was around 8,700-9,000 RMB/ton, and compared to the beginning of the month, the price increase was around 600-900 RMB/ton.
Market outlook
As of September 25th, the trading atmosphere in the MEK market had weakened, and downstream stocking and procurement were approaching the end. New orders were mainly traded on a volume basis. According to the MEK data analyst of the SunSirs, 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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- 2024-03-15 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
