SunSirs: In the First Week of 2024, the MEK Market Experienced an Upward Trend
January 09 2024 10:41:56 SunSirs (John)
Price trend
According to data monitoring by SunSirs, as of January 5, 2024, the domestic market price of MEK was referenced at 7,400 RMB/ton. Compared with January 1, 2024 (reference price of MEK was 7,233 RMB/ton), the price decreased by 167 RMB/ton, an increase of 2.30%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that since the fourth quarter of 2023, the overall performance of China's MEK market had continued to weaken, and under the drag of demand, the MEK market had been moving downwards. Entering 2024, the MEK market finally ushered in dawn. In the first week of 2024, the overall domestic MEK market began to rise, with some units in the MEK field being shut down for maintenance. The supply in the field was tight, and the supply pressure was reduced. The supply side supported the MEK market price, which gradually climbed from a low valley to an upward slope. As of January 5th, the domestic MEK market price was referenced at around 7,200-7,800 RMB/ton, and the lower level price was referenced at 7,000 RMB/ton.
Market outlook
As of January 5th, the overall trading atmosphere in the domestic MEK market was mild, with downstream MEK mainly maintaining rigid demand and stocking. The MEK market was supported by the demand side, and the overall performance was average. Therefore, the MEK data analyst from SunSirs believes that in the short term, the domestic MEK market is mostly stable, and the specific trend still needs to pay more attention to the specific news changes on the supply and demand side.
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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
