For the Quarter Ending September 2023


North America


In the third quarter of 2023, the Methyl Isobutyl Ketone (MIBK) market in North America experienced a sluggish price trend, influenced by deteriorating market fundamentals and low inventory levels among major enterprises. The decline in MIBK prices was attributed to a bearish market trading scenario in the USA, leading to discounts from key suppliers due to increased output and reduced demand from downstream enterprises. Massive stocks in the region and ample supply compelled producers to cut prices to prevent hoarding, prompting several manufacturing businesses to reduce their ex-factory quotations. The bearish trend persisted in MIBK commodity futures, with production facilities adjusting to accommodate lower bids, resulting in falling prices. Changes in demand and supply dynamics led to low market demand, especially in the downstream solvent industries, causing supply to exceed demand. By September 2023, the price of MIBK in the USA had declined to USD 1658/ton FOB Texas.

Asia Pacific

At the beginning of the quarter, the market fundamentals for Methyl Isobutyl Ketone (MIBK) in the Asia Pacific region remained bearish, characterized by sufficient inventory levels and limited demand for fresh stocks. The low cost of MIBK was attributed to increased production rates among major producers, resulting in oversupply. Weak market factors and bearish offerings for new cargo bids contributed to the downward price trend for MIBK. However, in September, a significant growth of 21% compared to August 2023 was observed in MIBK prices. This increase was due to limited product availability and higher bids and offers from suppliers to buyers. Trading activity expanded as substantial manufacturing units utilized existing stockpiles, reinforcing the price due to high production costs. The Acetone market also received support from the continued use of product stocks as feedstock, maintaining favorable cost support amid strong demand from the downstream sector.
Get Real Time Prices of Methyl Isobutyl Ketone (MIBK): https://www.chemanalyst.com/Pricing-data/methyl-isobutyl-ketone-68


Europe

In the third quarter of 2023, market purchasing activities for Methyl Isobutyl Ketone (MIBK) in Europe remained sluggish, influenced by weak trading fundamentals and limited demand from downstream industries such as paint and coatings. The Chemical Intermediate and solvent industries also experienced reduced demand, leading to an oversupply situation and a subsequent decline in MIBK prices. A weak purchasing sentiment and deteriorating demand outlook further contributed to the downward trend in European MIBK prices. The market for feedstock Acetone also experienced a slump, with weak market sentiments impacting purchasing activity. Traders hesitated to buy in higher volumes or at low prices, and the market suffered from limited fundamentals, resulting in dull spot prices. Producers faced pressure to clear their stock due to surplus product availability and lower demand for new stock. The European MIBK market continued to be under considerable pressure, with discussions on MIBK trades reflecting the subdued demand undertone.







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