SunSirs: Supply Was Limited, and the Domestic MIBK Market Was Slightly Upward
March 21 2024 10:23:16 SunSirs (John)
Price trend
The domestic MIBK market was strong and upward in the new week, with a focus on negotiations of 14,300-14,500 RMB/ton. As of March 19th, the industry's operating rate was around 80%, and the market supply was limited. Traders were showing a clear upward trend, leading to higher prices.
Analysis review
The raw material acetone was rising, with cost support. The raw material acetone market had shown a narrow upward trend. As of March 19th, the negotiated price of acetone in the East China region was between 7,280 and 7,350 RMB/ton, with prices in the South China region around 7,500 RMB/ton. At the beginning of the week, port inventory declined, and traders had a positive attitude, staying at low levels and pushing up prices. Downstream factory inquiries had increased, but actual transactions on the market needed to be increased.
Market outlook
It is expected that the MIBK market will remain strong in the near future, with some support from the supply side. Traders have a strong intention to raise prices, and it’s necessary to pay attention to the adjustment of quotes from traders on the market.
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- 2024-04-07 SunSirs: Social Inventory Was Limited, and Domestic MIBK Market Continued to Rise
- 2024-02-29 SunSirs: Limited Supply, Domestic MIBK Market Was Strongly Upward
- 2024-02-01 SunSirs: The Domestic MIBK Market Experienced a Significant Decline in January
- 2024-01-11 SunSirs: Domestic MIBK Market Continued to decline
- 2023-11-07 SunSirs: The Domestic MIBK Market Saw a Broad Decline
