Updated to mid-November 2009
Asian market review by Peh Soo Hwee, ICIS pricing
Methyl ethyl ketone (MEK) spot prices in Asia touched the $1,000/tonne level during the three months ended mid-November, led by gains in northeast Asia (NE Asia). Firm feedstock naphtha values saw producers pushing to raise prices to the four digit level and this was achieved with some success in South Korea, which is entirely dependent on imports.
Turnarounds at MEK plants in China run by Fushun Petrochemical and Zhong Jie Petrochemical also kept supply snug in the domestic market and helped to provide some support for prices near the end of the quarter.
MEK was traded at $950-1,000/tonne CFR (cost and freight) NE Asia by mid-November, up $50-80/tonne from levels in mid-August.
In southeast Asia (SE Asia), prices also gained $30/tonne to $940-970/tonne CFR SE Asia over the same period.
European market review by Mark Victory, ICIS pricing
European MEK prices went up by €20/tonne, to €760-780/tonne FD (free delivered) NWE (northwest Europe) between mid-August and the end of September, due to firmer feedstock costs and the need for producers to recover margins lost earlier in the year.
Nevertheless, weaker demand as customers lowered inventories ahead of the year-end meant that by mid-November prices fell back to August levels of €740-760/tonne FD NWE.
Prices were expected to further erode during Q4, according to buyers and sellers, as consumption decreased.
US market review by Larry Terry, ICIS pricing
MEK prices rose in the US by 2 cents/lb ($132/tonne) on feedstock pressure early in the three-month period leading up to mid-November, then rose another 4 cents/lb in September on improved sequential buying interest despite significantly lower year-over-year demand.
Late in the period, however, sellers gave up their 4 cents/lb gains as they acknowledged diminished demand. Buyers said supply was ample during the period despite some talk that production rates had been reduced to counter weak-to-flat demand.
During the period, feedstock ethylene settled in a rare three-month arrangement, putting September contract prices at 34.50 cents/lb. US October ethylene contract prices settled higher by 2.75 cents/lb to bring the October net contract price to 37.25 cents/lb.
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Methyl ethyl ketone
Uses and Outlook
The main application for methyl ethyl ketone (MEK) is as a low-boiling solvent for nitrocellulose, acrylic and vinyl surface coatings. Over half of global MEK demand is derived from the paints and coatings industry. Its advantage is that low viscosity solutions can be obtained, having a high solids content, without affecting the film properties. These lacquers are used in the automotive, electrical goods and furniture industries.
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Methyl ethyl ketone
Process Technologies
The main commercial route to MEK is the dehydrogenation of secondary butanol. Some companies employ sulphuric acid hydration of n-butene to make the secondary butanol.
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