The domestic MIBK market is mainly down. According to the Commodity Analysis System of Business Society, the market reported 16400 yuan/ton on November 1st and 14933 yuan/ton on November 8th, a decrease of 8.94%

Recently, the MIBK market has been mainly declining, with low end prices in East China reaching 14600-14800 yuan/ton. Downstream restocking intentions are not high, and with the off-season approaching, traders have a more bearish mentality, making it difficult to stop the market decline.

The cost side is bearish, with crude oil falling more or less in November, dragging down the weak and downward trend of the downstream acetone market. There is sufficient import and domestic supply, and the market’s spot circulation has increased. In addition, at the beginning of the month, downstream large factories mainly consumed contract volume, and there was less restocking in the market. As of the 8th, the acetone market has fallen by 6.61%, with the East China region offering 6600 yuan/ton.

From a terminal perspective, the demand in other industries is mostly small orders, with the largest downstream antioxidant industry experiencing a decline in operating rates. Overall, there is less demand for raw materials, and the market is mainly bearish. Large enterprises enter the market with caution and operate under targeted contracts, resulting in a lack of positive support for the industrial chain.

Concerns about the demand outlook have intensified, with overnight crude oil continuing to decline broadly, and bearish factors in the industrial chain increasing. Moreover, domestic demand is difficult to be optimistic. After a continuous decline in the market, the business community expects that there is still a small downward space in the short-term MIBK market, but it will enter a weak adjustment state later. Focus on the support from the raw material end.