Since September, the domestic MIBK market has shown a broad upward trend. According to the Commodity Market Analysis System of the Business Society, on September 1st, the MIBK market quoted 14433 yuan/ton, and on September 20th, the market quoted 17800 yuan/ton, with a cumulative increase of 23.3% in September.

The MIBK market has continued to rise, with the current mainstream negotiated prices in East China ranging from 17600 to 18200 yuan/ton. The tight spot resource situation in the market is difficult to improve, and the attitude of cargo holders is positive, pushing up offers multiple times.

From a cost perspective, the acetone market in East China continued to rise in September, reaching 7550 yuan/ton last week. Although there was an increase in restocking in Hong Kong this week and intermediate traders took profit margins, resulting in a decline in trading volume, overall acetone rose by 9.26%, which still provides support for the downstream MIBK market.

From a terminal perspective, towards the end of the 11th holiday, centralized procurement and stocking have been carried out, coupled with a significant increase in product prices in the industry chain, accelerating the pace of terminal stocking and ushering in a major upward trend in the market. In the second half of the year, there will be a decrease in large orders for immediate needs, with small orders being the main focus. However, the prices of small orders are mostly high, supporting a further increase in prices.

Overall, the current industry operating rate is at 50%, with a slight increase in domestic supply but little impact. Currently, pre holiday stocking is still ongoing, and the supply is relatively concentrated. The probability of traders continuing to push up is high. However, considering that the cost of acetone has been declining for several consecutive days and the stocking is approaching its end, it is necessary to be cautious that there may be adjustments in the MIBK market around the 11th. Business Society expects the MIBK market to be strong this week and is monitoring the trading situation on the market.