On December 29, Methyl Ethyl Ether (ME) manufacturers in Shandong region reported price reductions: Mingquan Group (formerly Shandong Mingshui) reduced its ME price by 30 yuan/ton and now quotes a spot delivery price of 2200 yuan/ton; Shandong Alliance also reduced its ME price by 30 yuan/ton to a quote of 2200 yuan/ton for factory delivery. PriceSeek evaluates ME, with a rating of -1. The reduction in the price of ME manufacturers in Shandong region by 30 yuan/ton, at a current cash price of 2200 yuan/ton for spot delivery from self-collection, indicates an abundance of supply or weak demand in the spot market, exerting direct downward pressure on prices. Considering the futures market trend, such as the main contract 2609 closing at 2147 yuan/ton, with a settlement price of 2138 yuan/ton, a decrease of -8.00, it shows that the futures prices are also on a downward trend, indicating market expectations are bearish. The rating is -1, suggesting that the impact is generally negative due to seasonal demand weakening or inventory increases leading to price pressure.
Comments
0