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Commodity News

SunSirs: Limited Supply, Domestic MIBK Market Was Strongly Upward

February 29 2024 15:15:18     SunSirs (John)

Price trend

On the 27th, the domestic MIBK market remained strong and upward, with a focus on negotiations ranging from 13700 to 14000 RMB/ton. Currently, the industry's operating rate is around 80%, and the market supply is limited. Traders have shown a clear upward trend, leading to higher prices.

Analysis review

The raw material acetone market is operating in a stalemate. As of now, the negotiated prices in major regional acetone markets are between 7150 and 7200 RMB/ton, with prices in South China around 7300 RMB/ton. The fundamentals are relatively stable and there are no significant fluctuations. Traders offer according to the market, terminal factories replenish as needed, and small trading orders follow up.

From the demand side, after the holiday, the terminal gradually recovered, with a focus on basic needs, increased participation of intermediate traders, and increased trading activity.

Market outlook

It is expected that the MIBK market will remain strong in the near future, with traders holding up prices and increasing their willingness to support prices.

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