Price trend
According to data monitoring by SunSirs, as of June 30, 2023, the domestic market price of MEK was referenced at 7,333 RMB/ton. Compared with January 1, 2023 (reference price of MEK was 8,533 RMB/ton), the price was reduced by 1,200 RMB/ton, a decrease of 14.06%.
Analysis review
From the data monitoring chart of SunSirs, it can be seen that in the first half of 2023, the domestic MEK market as a whole gradually declined in a volatile manner, with a decline of over 14% within the first half of the year. In the first quarter, the overall market situation of MEK showed a mixed trend of ups and downs. In January, around the Spring Festival, the MEK market adjusted its range and had limited market fluctuations. In February, the MEK market showed an upward trend, with high raw material prices providing increased support for the cost of MEK. In February, MEK increased by 2.73%. In March, demand dragged down, and the MEK market weakened and fell. In March, MEK fell by 1.90%.
In the second quarter, in April, insufficient demand dragged down the focus of MEK, with a monthly decline of 3.29%. In May, the MEK market continued to decline deeply, with weak supply and demand support. In May, MEK fell by 15.83%. In June, the cost side of MEK provided some support, and downstream small-scale stocking led to an increase in the MEK market, with a 7.06% increase in June.
Market outlook
At present, the trading atmosphere of MEK on the market is average, and there is a strong wait-and-see sentiment on the market. The MEK data analyst of SunSirs believes that in the short term, the domestic MEK market will mainly adjust and operate in a narrow range, and the specific trend needs to pay more attention to changes in supply and demand news.
