SunSirs: MEK Market Was Weak and Declined This Week (April 10-14)
April 17 2023 10:06:06 SunSirs (John)
Price trend
According to the data monitoring of the business community, as of April 14, 2023, the reference market price of domestic MEK was 8,366 yuan/ton, which was 384 yuan/ton lower than that of April 10, 2023 (the reference price of MEK was 8,750 yuan/ton), a decrease of 4.38%.
Analysis review
From the data monitoring chart of the Business Society, it can be seen that this week (4.10-4.14), the overall trend of the domestic MEK market was weak and declining. Downstream demand for MEK was poor, and the demand side was dragging down the pace of MEK market shipments. Therefore, this week, under the influence of insufficient downstream demand, some MEK factories and suppliers had lowered the shipment prices of MEK narrowly, with a reduction of around 100-400 yuan/ton. As of April 14th, the trading atmosphere on the MEK exchange was average, and downstream wait-and-see sentiment was strong. Market transactions were mostly based on negotiations. The domestic market price of MEK was around 8,000-8,500 yuan/ton.
Market outlook
As of April 14th, the overall trend of the MEK market remained weak, but it was rumored that some devices in the MEK market will be shut down for maintenance in the second quarter, and it is expected that supply and production may decrease compared to the first quarter. In addition, the strong international crude oil trend will provide a certain support advantage to the industrial chain. Therefore, the MEK data analyst from the Business Society believes that in the short term, the probability of a significant decline in the MEK market is not high, and the market will mostly consolidate. The specific trend still needs to pay more attention to specific news changes on the supply and demand side.
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