(1) The acetone market rose broadly. As of September 10, the mainstream market price was around 9,100 yuan/mt.
(2) The MIBK industry operating rate was 49.12% this week.
Table 3: Prices of MIBK and Related Products This Period (Unit: yuan/mt)
| Product | Region/Category | Sep 10 | Sep 3 | Change | Change % | Unit |
|---|---|---|---|---|---|---|
| Acetone | East China | 9100 | 7600 | 1500 | 19.74% | yuan/mt |
| MIBK | East China | 13000 | 11000 | 2000 | 18.18% | yuan/mt |
| South China | 13400 | 11400 | 2000 | 17.54% | yuan/mt | |
| Antioxidant 4020 | East China | 21300 | 21000 | 300 | 1.43% | yuan/mt |
The MIBK market continued its upward trend this period. As of September 10, the East China market price was 13,000 yuan/mt. During the week, the acetone market rose sharply, breaking through the 9,000 yuan/mt mark, causing MIBK industry costs to surge. Coupled with favorable external factors, the industrial chain showed a strong bullish atmosphere; supplier sentiment was boosted, companies raised quotations, and holders widely followed with higher offers. However, downstream buying sentiment was cautious, and inquiry activity was moderate. Nevertheless, low-priced cargoes were hard to find, and negotiation levels rose sharply.
(1) This week, the feedstock acetone market rose week-on-week, with acetone negotiations referenced at around 9,100 yuan/mt.
(2) MIBK weekly average gross profit increased by 34 yuan/mt from the previous period to around -1,549 yuan/mt.
(3) MIBK industry operating rate was around 49.12% this week.
The MIBK market is expected to have further upside next period. Focus on the following aspects:
Supply: Production is expected to fluctuate little next week, and spot availability is likely to remain tight.
Demand: As holidays approach, downstream stockpiling demand exists, but due to high MIBK prices, downstream purchasing is cautious.
Cost: The feedstock acetone market may continue to rise, providing strong cost support for MIBK.
Sentiment: The phenol-acetone market still has upward expectations. Combined with tight supply, holders are reluctant to sell and remain bullish.
Overall, the short-term market is expected to move higher at elevated levels.
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