SunSirs: This week, the MEK Market Experienced a Slight Decline (January 8-11)
January 12 2024 10:10:39 SunSirs (John)
Price trend
According to data monitoring by SunSirs, as of January 11, 2024, the domestic market price of MEK was referenced at 7,433 RMB/ton. Compared with January 8, 2024 (reference price of MEK was 7,466 RMB/ton), the price was reduced by 33 RMB/ton, a decrease of 0.45%.
Analysis review
From the monitoring chart of SunSirs data, it can be seen that this week (1.8-1.11), the overall domestic MEK market showed a slight decline. At the beginning of the week, the trading atmosphere in the MEK market was light, and downstream demand was weak. The support provided by the demand side to the market was limited, and the MEK market as a whole was weak and consolidating. The improvement in demand was not satisfactory. As the weekend approaches, some factories in Shandong region had narrowly lowered the price of MEK by 50-100 RMB/ton, driving the overall market trend to slightly decline. As of January 11th, the domestic market price of MEK was based on around 7,100-7,600 RMB/ton.
Market outlook
As of January 11th, the inquiry atmosphere in the MEK market had been relatively calm, and the mentality of the industry was average. Downstream demand mainly continued to be based on rigid demand procurement. SunSirs’ MEK data analysts believe that in the short term, the domestic MEK market price will mainly adjust within a narrow range, and the specific trend still needs to pay more attention to the specific news changes on the supply and demand side.
If you have any questions, please feel free to contact SunSirs with support@SunSirs.com.
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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
