In February, the domestic MEK market experienced a fluctuating downward trend. As of February 26, the monthly average price of MEK in East China was 7,913 yuan/ton, down 1.91% from the previous month. During this month, the operating rate of domestic MEK oxime factories was around 70%, an increase of 5 percentage points compared to the previous month. Downstream adhesive industries showed limited follow-up, with some MEK oxime enterprises purchasing on a need basis. The coatings industry remained in its off-season, and small and medium-sized enterprises were slow to resume operations after the holiday, leading to overall weak demand in February. On the export front, international MEK production facilities operated steadily, and China’s price advantage diminished, potentially resulting in a decline in export volumes.
It is expected that the MEK market will show a trend of first falling and then rising in March, with the overall average price declining. In early March, domestic production is expected to increase as the upstream unit of Yuxin in Huizhou is scheduled to complete maintenance, leading to a rise in MEK operating rates by around 20%. The increase in supply will create sales pressure for production enterprises, causing the MEK market to fluctuate and decline in early and mid-March. However, considering the currently high costs of MEK, after a period of price decline, most industry players are expected to make bottom-fishing purchases based on rigid demand, which will alleviate social inventory pressure to some extent. As a result, MEK prices are expected to rebound somewhat in late March.
Post time: Feb-27-2025