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Updated to Q1 2017
Methyl isobutyl ketone (MIBK) spot prices were mixed in the first quarter, mirroring movements in feedstock acetone prices.
Tight supply in China limited the impact of a downtrend, and strengthened an uptrend, based on the direction of feedstock costs.
Ningbo Zhenyang had two shutdowns, while Jilin Petrochemical was set to restart at the end of March after almost a year of shutdown.
China prices remained higher than southeast Asian prices due to tightened supply, in spite of lower freight rates.
In addition, some producers which do not sell to China chose to sell to southeast Asia at lower prices compared with China’s, since they do not have a basis for comparison.
The mid-point of Chinese prices was $1,575/tonne CFR China in early January and $1,540/tonne CFR China by mid-March. The mid-point of southeast Asian prices was $1,465/tonne CFR SE Asia in early January and $1,482.50/tonne CFR SE Asia by mid-March.
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