SunSirs: The Domestic MIBK Market Continued to Push Up
September 06 2023 09:34:50 SunSirs (John)
Price trend
Due to factors such as tight supply and factories taking the lead in raising prices, the domestic MIBK market continued to rise. According to the Commodity Analysis System of SunSirs, the market quoted 12,333 RMB/ton on August 1st and 14,600 RMB/ton on September 5th, an increase of 18.4%.
Analysis review
The MIBK market was on the rise, with mainstream negotiated prices in East China ranging from 14,500 to 14,800 RMB/ton. The market's spot resources were still tight, and holders were firm in their offers, indicating a tentative high. In terms of cost, the East China acetone market had pushed up by 50 to 100 RMB/ton, with negotiations reaching 6,750 RMB/ton. This was due to the increased support from the cost side and the low spot pressure on acetone, leading to an increase in factory prices. From the downstream perspective, there was an increase in just needed restocking, and the number of chassis inquiries had increased. The actual order negotiation needed to be improved.
Market outlook
From the perspective of SunSirs, the supply in September is still limited, and there may be maintenance expectations for Wanhua Chemical and Zhejiang Zhenyang. Traders still have a reluctance to sell. SunSirs expects the MIBK market to remain strong in September, with an increased probability of market upside.
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