Last week’s review: The domestic MIBK market continued to decline, with the focus of negotiations dropping to 14400 yuan/ton. The current industry operating rate is around 60%, and there is little short-term fluctuation.

The raw material acetone market has risen narrowly. As of now, the negotiated price in the acetone market in East China is between 6850-6900 yuan/ton. The trading atmosphere in the market was average during the week. At the beginning of the week, with the arrival of port supplies, domestic factories are still in a loss making state. Traders are firm in their offers, and low prices are not offered. Petrochemical enterprises are maintaining stability and shipping according to plan, and downstream demand is following up. Purchasing sentiment is average, and transactions are 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.

The planned quantity on the demand side is poor, and traders have a clear intention to ship. The actual supply exceeds the demand, and it is expected that the MIBK market will continue to decline today.