The domestic MIBK market experienced a significant decline in January

In January, the domestic MIBK market experienced a significant decline. According to the Commodity Analysis System of Shengyishe, the market reported a price of 15033 yuan/ton on January 1st, but dropped to 13666 yuan/ton on January 31st, a decrease of 9.09% for the month.


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In early January, with tight spot resources, traders pushed up their offers. In the latter half of the year, with lower acceptance of high priced MIBK by downstream and intermediaries, a weak buying atmosphere, coupled with insufficient confidence in the future market, traders increased their enthusiasm for shipping, and prices gradually declined.


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The raw material acetone market has risen narrowly. As of now, the negotiated price of acetone in the East China region is between 6950-7000 yuan/ton. As the holiday approaches, the trading atmosphere in the market is average. At the beginning of the month, due to the shortage of port supply, domestic factories are still in a loss making state, and traders are firm in their offers. After the market surged, with insufficient downstream demand support, the market quickly fell and transactions were flat.


From a terminal perspective, the intention to purchase large orders has decreased, and the demand is mostly for small orders to follow up. Large enterprises enter the market with caution and tend to operate targeted contracts, but traders are holding onto the market and reluctant to sell, resulting in a significant increase in small order prices.


It is expected that the weak and volatile operation will be the main trend in February. As the spring break approaches, the trading enthusiasm of manufacturers in the market is not high. Factories will mainly deliver orders, and inventory pressure is not high. It is expected that factory inventory may rise during the Spring Festival period, and downstream demand for replenishment will be the main trend after the holiday. There may be a slight increase but the cycle is relatively short. After the holiday, attention should be paid to the resumption of downstream work and the production of new equipment in Anhui.

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