Insufficient supply, superimposed demand, prolonged rise in methyl ethyl ketone prices hit a new high in recent years

According to information from Shanghai Securities Daily, due to the continuous increase in prices in the international market, the domestic methyl ethyl ketone enterprises have increased their export trends, and the market supply has begun to tighten. On September 1, the sources in East China increased 150 yuan per ton, nearly 5% in the week before, setting a new high in recent years. Market prices in other regions will also follow the upward trend. The industry expects that the domestic market has entered the peak season of demand, coupled with rising prices in overseas markets, the MEK industry boom is expected to continue to improve.

In the international market, driven by downstream demand, the prices of butanone in Europe and the United States have risen by more than US$200/ton since the beginning of August, with a margin of approximately 10%. In addition, Japan’s largest Methyl Ethyl Ketone producer, Maruzen, shut down its production in May and June, and two other Japanese Dongdan and Idemitsu Kosan production companies also overhauled the MEK plant. The total production capacity was 135,000 tons, which reduced the supply in Southeast Asia. Boost international prices. The vacant Southeast Asian market demand will be filled by domestic companies.

According to the latest customs data released in July, the country’s exports of methyl ethyl ketone for the month were 6873.3 tons. Although the chain fell slightly, it still surged by more than 200% year-on-year. Benefiting from the impact of suspension of production and maintenance by leading international companies such as Japan, this year's domestic market exports have significantly improved. Data show that this year, the cumulative amount of methyl ethyl ketone exports reached 56,000 tons, compared with 42.40 million tons in the same period in 2013, a substantial increase of over 30%, and the export prices were basically the same. The industry expects that this year, the export volume of methyl ethyl ketone will exceed 100,000 tons, which is nearly 60% higher than last year's 64,000 tons, which is obviously driving the industry.

In terms of domestic production capacity, according to the average operating rate of methyl ethyl ketone industry in recent years, domestic production in 2014 is expected to reach 430,000 tons, which is an increase of 16% compared with 370,000 tons in 2013. However, taking into account the maintenance of the enterprise installations and the postponement of new production capacity, the actual output may be lower than expected, which will help improve the supply and demand structure of the industry. The agency expects the MEK industry will usher in a new round of boom times after experiencing a brief downturn in July in the wake of the strong domestic demand season and rising prices in overseas markets.

In terms of the company, Qixiang Tengda (16.19, 0.42, 2.66%) has a production capacity of 200,000 tons, which accounts for nearly half of the domestic market share. At present, it is maintaining full-scale sales. The company stated that with the recovery of demand in Europe and other markets, the production capacity of MEK downstream companies will recover, and the MEK market will maintain a certain growth in the future. In recent years, the company has stepped up its export efforts, guaranteeing about 40% of its output, and continuing to seize the foreign market share. In addition, the company's other leading product, butadiene, due to the use of shale gas technology in Europe, the United States, and the Middle East, the butadiene output will continue to tighten in the future, and the degree of prosperity is expected to improve. Haiyue Group (15.92,0.17,1.08%) mainly sells refined oil and liquefied gas, and promotes 1.38 million tons of propane and mixed carbon four-use projects. The first phase of the project has been gradually put into production, of which 40,000 tons of methyl ethyl ketone plant has been in 6 On the 19th, the qualified products were produced. The current sales are smooth, and recent prices have risen. Tianli Hi-tech (6.25, 0.07, 1.13%) is a local state-owned holding company in Xinjiang. It mainly deals with deep-processed petroleum products. Currently, it has a production capacity of 40,000 tons of methyl ethyl ketone, and it will also carry out technical upgrading projects for the upgrading of methyl ethyl ketone raw materials and products.