The focus of the domestic MIBK market is declining. According to the Commodity Analysis System of the Business Society, the market quoted 15600-15800 yuan/ton on November 3rd, a decrease of 7.07% during the week

The MIBK market has seen a broad decline, with mainstream negotiated prices in East China dropping to 15600-15800 yuan/ton. Currently, the operating rate of the MIBK industry is at 65%, and downstream buying and wait-and-see are the main factors in the declining market. The demand for goods is limited, and traders’ enthusiasm for shipping is not high, resulting in a bearish market.

The cost side was bearish, and the domestic acetone market fell broadly during the week. With the concentration of imported goods arriving at the port, inventory increased to 22000 tons, and the market’s spot circulation increased. In addition, at the beginning of the month, downstream large factories mainly consumed contract volume, with little intention of restocking in the market. Traders were under pressure to sell at low prices. During the week, Sinopec lowered the listing prices of factories in East China and North China, boosting the market’s decline, As of the morning of November 6th, the listing price of Lihua Yiwei Yuan acetone continued to be lowered by 100 yuan/ton to execute 6700 yuan/ton. The mainstream reference price in East China is around 6500 yuan/ton, and the national acetone market fell by an average of 6.57% during the week, with acetone in East China dropping by 9%.

From a terminal perspective, the demand is mostly for small orders to follow up. As the market enters the off-season, the operating rate of the downstream antioxidant industry has declined, and the overall demand for raw materials is relatively low. The market’s bearish mentality has increased. Large enterprises enter the market with caution and operate under targeted contracts, resulting in a lack of positive support for the industrial chain.

Business Society predicts that the short-term MIBK market will continue to decline, with traders mainly reducing inventory through profit margins. The market will continue to bottom out in November. Focus on the support from the raw material end.