SunSirs: The domestic MIBK market's focus declined in October
November 02 2023 14:46:02 SunSirs (John)
Price trend
In October, the focus of the domestic MIBK market declined. According to the Commodity Analysis System of SunSirs, the market quoted 17,633 RMB/ton on October 1st, and 16,400 RMB/ton on October 31st. The cumulative decline in October was 7%
Analysis review
In October, the MIBK market went down, and the mainstream negotiated prices in East China fell to 16,200-16,400 RMB/ton. The market had prices but no market, and the trading situation was not optimistic. There were few new orders in the market, and large factories also reduced their volume. Traders lacked confidence in the short-term market and offered lower prices.
The cost side is bearish. In October, the domestic acetone market fell more or less, and after the holiday, port inventory rose to 16,000 tons, causing a rapid decline in the market. However, as factories digested the short-term replenishment benefits and port inventory decreased, Sinopec Mitsui Phenol Ketone Plant temporarily shut down, and the market rebounded. However, ultimately, demand was limited and the push for growth was weak. In the latter half of the year, the market fell again.
From a terminal perspective, the demand was mostly for small orders to follow up, while the cautious operation of large enterprises entering the market was mostly targeted contracts, and the industrial chain lacked positive support.
Market outlook
From the perspective of SunSirs, the domestic production of MIBK in October was 6,800 tons, an increase compared to the previous month, and the operating rate has improved. Recently, the supply side was still sufficient, but demand was gradually turning into the off-season. The operating rate of downstream anti-aging agents was declining, and there was less consumption of raw materials. MIBK traders have increased their intention to ship. SunSirs predicts that the short-term MIBK market will continue to decline, and the market is expected to continue to bottom out in November. Focus on the support from the raw material end.
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