SunSirs: Supported by Supply and Demand, the Center of MEK Continued to Move Upwards at the Beginning of the Month

Price trend

According to data monitoring by SunSirs, as of March 8, 2024, the domestic market price of MEK was referenced at 8,316 RMB/ton. Compared with March 1, 2024 (reference price of MEK was 8,233 RMB/ton), the price increased by 83 RMB/ton, an increase of 1.01%.

Analysis review

From the data monitoring chart of SunSirs, it can be seen that after returning from the Spring Festival holiday in February, the MEK market has experienced a steady upward trend. Entering March, the rise of the MEK market has not stopped, and the overall market focus continues to slightly approach high levels. As of March 8th, the domestic MEK market price reference is around 8,100-8,600 RMB/ton.

Analysis of Factors Supporting the Rise of MEK Market

In terms of supply: Currently, the overall operation of MEK factories remains at a low level, with an operating rate of around 70%. Some MEK factories have delivered export orders, and with the support of export orders, the overall supply pressure on the MEK market is relatively low. The supply side provides support for the MEK market situation.

In terms of demand: The weather is gradually warming up, and the terminal market for MEK is steadily recovering. The overall downstream demand for MEK is stable with a slight increase, and the demand side has also brought upward power to the market.

Market outlook

At present, the trading atmosphere in the domestic MEK market is mild, and the mentality of the industry is good. SunSirs’ MEK data analysts believe that in the short term, the domestic MEK market will mainly operate stably with small fluctuations, 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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