SunSirs: Under Cost Support, the MEK Market Was Operating with a Narrow Upward Trend (January11-19)
January 23 2024 15:11:10 SunSirs (John)
Price trend
According to data monitoring by SunSirs, as of January 19, 2024, the domestic market price of MEK was referenced at 7,566 RMB/ton. Compared with January 11, 2024 (reference price of MEK was 7,433 RMB/ton), the price increased by 133 RMB/ton, an increase of 1.79%.
Analysis review
From the monitoring chart of SunSirs data, it can be seen that in the recent period (1.11-1.19), the overall domestic MEK market had shown a narrow upward trend. Recently, ether carbon four, the cost side of MEK had seen a slight increase, providing increased cost support for MEK. The seven day production cost of MEK increased by 0.27% on a monthly basis. Therefore, some MEK factories and suppliers had been affected by the increase in production costs, resulting in a narrow increase in the shipment price of MEK, with an increase of about 50-100 RMB/ton. As of January 19th, the support provided by the downstream demand side for MEK was average, and new orders of downstream were mainly in demand. The market trading atmosphere was light and mild. As of January 19th, the domestic market price of MEK was around 7,400-7,800 RMB/ton.
Market outlook
As of January 19th, the trading atmosphere on the market for MEK was relatively light, and the demand side was quiet, providing limited support for MEK. The transmission between supply and demand in the MEK market was average, and there was a certain wait-and-see mentality in the market. SunSirs' MEK data analyst believes that in the short term, the domestic MEK market prices are mainly adjusted in a narrow range, 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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- 2024-03-26 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
