Price trend
The MIBK market ran smoothly in the first ten days of November. After the middle of the month, MIBK rose sharply due to tight supply, cost support and demand. According to the monitoring data of the business community, the MIBK market price was 11,633 yuan/ton on November 1, and the market price rose to 13,333.3 yuan/ton on December 1, up 14.6%.
Analysis review
The supply of MIBK market was tight in November. During the month, Jilin Petrochemical's 15,000 t/a MIBK unit was shut down for one month from October 12 to November 10. Dongying Yimeide's 15,000 t/a unit continued to shut down. The domestic operating rate was 70%. It is understood that the domestic monthly output was 8,000 tons, down 10% month on month.
The downstream antioxidant industry had sufficient orders, and the demand for raw materials was fair. The downstream antioxidant 4020 factories mainly delivered orders, and the factory MIBK directly connected with the antioxidant factory. The distribution to the market circulation was limited, and the traders had few supplies. The attitude of being reluctant to sell was obvious. Other downstream enterprises mainly made small orders, and it was difficult to find a large number of supplies in the market, supporting the continuous growth of the raw material MIBK market.
The acetone at the raw material end boosted, the support from the cost side was strong. Taking the acetone market in East China as an example, the mainstream negotiated price at the beginning of the month was 5,400 yuan/ton, and the market rose to 6,150 yuan/ton as of the 28th, with a market increase of 13.9%. Although acetone fell sharply on the two days at the end of the month, throughout November, acetone, as the raw material of MIBK products, continued to push up in mainstream regions, with strong support from the cost side.
Market outlook
From the perspective of the business community, the supply of MIBK in December has improved, and acetone has continued to fall since the end of November, with a significant downward trend. In December, some downstream enterprises of mibk have maintenance plans, and the purchase volume is expected to decline. In addition, under the epidemic situation in December, logistics have a great impact and the cost increases accordingly. However, overall, the current market circulation resources are still limited. The short-term MIBK market is firm and stable, and the negotiated price is expected to be 13,300-13,400 yuan/ton.
