SunSirs: MEK Market Rose First and Then Fell in November (November 1-25)
November 29 2022 10:14:42 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of November 25, 2022, the domestic MEK market reference price was 8,866 RMB/ton, which was 200 RMB/ton higher than the price on November 1 (8,666 RMB/ton), an increase of 2.31%.
Analysis review
It can be seen from the data monitoring chart of SunSirs that since November (11.1-11.25), the domestic MEK market rose first, then fell, and the overall market rose slightly. The market trend of MEK can be divided into two parts: early November and late November:
In early November, the domestic MEK market generally rose. Since the beginning of the month, the high price of raw material Ether carbon four supported the cost of MEK, and the MEK market price had steadily moved upward. On November 17, the market price of MEK was 8,966 RMB/ton, up 3.46% in early November.
In late November, the rise of domestic MEK market failed to continue. Under the supply and demand game, the market was temporarily stuck at a high level. However, the downstream demand was average, and under the control of demand, near the end of the month, the MEK market began to decline. On November 25, the market price of MEK was 8,866 RMB/ton, down 1.12% in five days.
Market outlook
As of the 25th, the trading atmosphere of MEK on the market was flat, and the downstream demand was still weak as a whole. MEK data engineers from SunSirs believed that in the short term, the domestic MEK market was dragged down by demand or there was a risk of further small decline, and more attention should be paid to the information changes on the supply and demand side for the specific trend.
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