SunSirs: The Demand Was Deserted, but the MEK Market Was Falling All the Way in July (July 1-25)
July 26 2022 15:53:36 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of July 25, 2022, the average ex-factory price of MEK in the domestic market was 8,266 RMB/ton, compared with July 1 (the ex-factory price of MEK was 10,100 RMB/ton), the price was down 1,834 RMB/ton or 18.15%. Compared with June 25 (the ex-factory price of MEK referred to 10,766 RMB/ton), the average price was lowered by 2,500 RMB/ton.
Analysis review
It can be seen from the data monitoring chart of SunSirs that from July 1 to 25, the domestic MEK market was running downward as a whole. At the beginning of July, the domestic MEK market had a short-term firm operation, but due to the restraint of downstream demand, the MEK market had been declining since the middle and early July, the transmission of supply and demand was blocked, the MEK market lacked strong support, and the market price continued to move towards the low end. As of July 25, the low-end price of the domestic MEK market was around 8,200 RMB/ton, a drop of more than 18% compared with the beginning of the month.
On the upstream side, from July 1st to 24th (7.1-7.24), the domestic LPG market in Shandong was on a downward trend as a whole. According to the data monitoring of the business community, on July 22, the reference price of liquefied gas was 5,744 RMB/ton, a decrease of 2.48% compared with July 1 (5,890 RMB/ton).
Market outlook
At present, the MEK market is weak and consolidating in operation, and the raw material side support performance is general. The MEK data engineer of SunSirs believes that in the short term, the domestic MEK market is mainly adjusted and operated within a narrow range, and more attention needs to be paid to the basic changes in the supply and demand of MEK.
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