SunSirs: Since December, the MEK Market Had Been Dropping Overall

Price trend

According to data monitoring by SunSirs, as of December 20, 2023, the domestic market price of MEK was referenced at 7,216 RMB/ton. Compared with December 1, 2023 (reference price of MEK was 7,533 RMB/ton), the price decreased by 317 RMB/ton, a decrease of 4.20%.

Analysis review

From the monitoring chart of SunSirs data, it can be seen that since December (12.1-12.20), the overall domestic MEK market had shown a weak downward trend. In early December, the domestic MEK market as a whole experienced a narrow downward trend, with loose downstream demand. The demand side provided insufficient support to the MEK market, and some MEK factories and suppliers slightly lowered the price of MEK by about 50-100 RMB/ton. As of December 10th, the MEK market experienced a decline of 0.88% in early December.

Entering the mid December stage, the decline in the MEK market had not stopped, and downstream demand continued to be weak. The demand side continued to drag down the market, and the focus of the MEK market had been continuously low. As of December 12th, the low-end price of MEK had dropped to around 7,000 RMB/ton, followed by a weak consolidation operation in the market. On the 18th, some devices underwent temporary maintenance, and the expected supply of MEK in the field decreased. Some operators adjusted their mentality and raised the shipment price of MEK narrowly, with an increase of 50-100 RMB/ton, driving a slight correction in the MEK market. However, due to the limited boost from downstream demand, the rise of MEK was not continuous, and the market resumed consolidation. As of December 20th, the domestic MEK market price reference was around 7,000-7,600 RMB/ton.

Market outlook

As of December 20th, the overall trading atmosphere in the MEK market had been mild. As of December 20th, downstream MEK was generally digesting raw materials, and procurement was mainly cautious and quantitative. The supply and demand pressure in the MEK market still existed. SunSirs' MEK data analyst believes that in the short term, the domestic MEK market is mainly adjusted and transitioned, 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.