Following the sharp rise of 14.6% in the MIBK market in November, the mainstream price of the domestic market rose from 11633 yuan/ton on November 1 to 13333.3 yuan/ton on December 1. In December, the trend of stability first followed by a sharp rise. According to the monitoring data of the business community, the MIBK market price was 13333.3 yuan/ton on December 1. As of December 29, the market price rose to 15333 yuan/ton, a 15% increase in December.
The domestic operating rate dropped sharply, and the market rose sharply under the tight supply. On December 25, Li Changrong, Zhenjiang, shut down the 50000 t/a MIBK unit. The restart time is uncertain and may take a long time. The total capacity of domestic MIBK is only 125000 tons. Large units were shut down, and the domestic operating rate fell below 40%. The market rose along the trend under tight supply.
The market continues to be strong, and the social inventory is low. Since the short-term maintenance of multiple devices in November, the market supply has remained tight, and the 15000 tons in Zhenyang, Ningbo, were parked for half a month in the first half of the month. However, due to the epidemic situation in the country at the beginning of the month, only a few traders have goods in their hands, and the supply of social products continues to be tight.
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Acetone at the raw material end was at a high level in the first ten days, slightly supported by the cost. Taking the acetone market in East China as an example, the negotiated price in East China acetone market has been at a high level of 5900-6000 yuan/ton from December 5 to 15, and the market gradually declined to 5450 yuan/ton in the last ten days. However, throughout the year, the acetone market was at a relatively high level in December, supported by costs.
The orders of the downstream antioxidant industry were stable, but they were mainly in demand at the end of the year. The downstream antioxidant 4020 factory mainly delivers orders, and the factory MIBK directly connects with the antioxidant factory, with limited distribution to the market. At present, the downstream main factories are limited to follow up before New Year’s Day, and small order replenishment is dominant. The short-term MIBK market continues to rise, which is not supported by good profits.
From the perspective of the business community, the supply of MIBK continued to be tight in December, and by the end of the month, the shutdown operation rate of large devices dropped to below 40%, which prompted the MIBK market to continue to rise after the sharp rise in November. However, in the near future, the downstream just needs small order replenishment, and the actual order quantity is limited before New Year’s Day, while the main downstream antioxidant 4020 enterprises still have some stocks, which is slightly resistant to the high priced raw materials, and lacks the motivation to continue to catch up in the short term, The business agency expects that the MIBK market will run stably in the short term, and the negotiation is expected to be 15000 yuan/ton.
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