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Updated to Q2 2018
Supply was softer, as operating rates were kept to a minimum. This was due to a slide in methyl isobutyl ketone (MIBK) prices alongside a drop in feedstock acetone prices. The MIBK offtake in China was slow for both domestic goods and imports. China-based buyers were cautious about seeking imports after antidumping duties (ADD) were finalised. Mitsubishi Chemicals underwent a turnaround, which had a minimal impact on prices as the plant rarely sends cargoes to China. Within southeast Asia itself, supply was abundant as demand was slow.
Methyl isobutyl ketone (MIBK) demand in Q2 was slow, alongside feedstock acetone and its chain of solvent derivatives. Buying activity is typically scant during the lull in demand in China during summer and the onset of the monsoon season in India. Rubber tyre production and marine coating projects were hindered by inclement weather. Import demand was further weakened after antidumping duties (ADDs) were imposed. Buyers stated their preference for local goods over imports due to a large disparity in prices.
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