SunSirs: After the National Day, the MEK Market Went Down Weakly Overall
October 13 2022 09:03:58 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, as of October 12, 2022, the average ex factory reference price of domestic MEK market was 9,400 RMB/ton, which was 500 RMB/ton or 5.05% lower than the price on September 30 (9,900 RMB/ton).
Analysis review
It can be seen from the data monitoring chart of SunSirs that after the National Day holiday in October, the domestic MEK market overall showed a weak downward trend. Back after the festival, driven by the continuous rise of international crude oil prices, the MEK industry has a good attitude after the festival, and some of them are not willing to sell at low prices. However, due to the common demand for MEK before the festival and the sales pressure of some factories and operators after the festival, the market quotation generally fell in a narrow range after the festival. In addition, the downstream demand was cautious after the festival, and the demand side also restricted the MEK market. Therefore, the overall MEK market was weak after the festival. As of October 12, there was a large difference between high and low prices in domestic MEK market. The market price was around 9,000-9,800 RMB/ton. Compared with that before the festival, the price decreased by 400-600 RMB/ton.
On the upstream side, after the festival, the domestic market of LPG for civil use in Shandong Province showed an overall upward trend. According to the data monitoring of SunSirs, the reference price of LPG was 5,604.00 RMB/ton on October 11, up 2.71% compared with that of October 1 (5,456.00 RMB/ton).
Market outlook
At present, the downstream demand of MEK is average, and the supply and demand transmission is relatively slow. Although the raw material side has given MEK some cost support, it has not improved the current environment in the MEK market, and the overall trading atmosphere in the market is relatively flat. MEK mathematicians from SunSirs believe that in the short term, the domestic MEK market tends to adjust its operation to a weak range, and the specific trend needs to pay more attention to the specific information changes on the supply and demand side.
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