SunSirs: This Week, the Domestic MIBK Market Saw a Broad Upward Trend
September 15 2023 14:37:40 SunSirs (John)
Price trend
This week, the domestic MIBK market saw a broad upward trend. Due to the tight supply of goods and the impact of multiple factory price increases, the market continued to rise. According to the Commodity Analysis System of SunSirs, on September 11th, the market quoted 14,433 RMB/ton, and on September 15th, the market quoted 16,500 RMB/ton, with a weekly increase of 12.67%.
Analysis review
The MIBK market was on the rise, with mainstream negotiated prices in East China exceeding 16,500 RMB/ton. The market's spot resources were still tight, and holders were firm in their offers, with a tentative high. In terms of cost, the acetone market in East China was continuously rising, with discussions reaching 7,550 RMB/ton. The support from the cost side increased, the pressure on spot acetone was low, and factories adjusted the price upward. From the downstream perspective, there was an increase in just needed restocking, the volume of inquiries had increased, and the negotiation of actual orders needed to be improved.
Market outlook
From the perspective of SunSirs, the overall supply in September was limited, and the supply of goods was relatively concentrated. Traders still showed a reluctance to sell. SunSirs expects the MIBK market to continue to rise next week.
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