Price Trend

The domestic market of cyclohexanone rose narrowly this week. According to the monitoring data of business associations, the average price of domestic producers of cyclohexanone was 7966 yuan/ton at the beginning of the week and 8033 yuan/ton at the end of the week, with an increase of 0.84% and a decrease of 3.21% annually over the same period of last year, and a decrease of 35.73% over the same period of last year.

II. Market Analysis

Product: Cyclohexanone market is steadily rising this week. The price of pure benzene of Sinopec increased by 100 yuan/ton to 5200 yuan/ton by spot withdrawal. Hydrobenzene is also rising, and the cost is well supported. Cyclohexanone factory spot is not much, some factories are not exported, the overall spot supply is tight, downstream chemical fiber market has a certain demand, to support the market of cyclohexanone slightly, traders follow the rise, the market trading atmosphere is still acceptable. Within a week, the ex-factory price of cyclohexanone was raised by 300 yuan/ton to 8200 yuan/ton, which is about 300 yuan/ton higher than the ex-factory price last week. Huafeng’s newly commissioned cyclohexanone plant has not been exported for the time being, and has not yet had a significant impact on the market. In terms of price, the mainstream negotiation in Shandong market is 8300-8400 yuan/ton cash delivery, the mainstream negotiation in East China market is 8500-8700 yuan/ton cash delivery, and the mainstream negotiation in South China market is 8700-8800 yuan/ton cash delivery.

Industry chain: raw materials, pure benzene, pure benzene prices rose this week. The unplanned shutdown and delayed restart of some large-scale installations within the week resulted in a reduction in outflow. While the arbitrage window between the United States and South Korea remains open, domestic import arrivals remain low, the overall market supply is tight, and port inventory continues to decline to about 140,000 tons. At the beginning of the week, Sinopec added 100 yuan/ton to 5200 yuan/ton. Market prices also continued to rise to 5300-5350 yuan/ton.

Caprolactam: Domestic caprolactam liquid price is basically stable this week. The market cost and demand game of caprolactam increased by 100 yuan/ton to 5200 yuan/ton at the beginning of the week. The price of pure benzene in East China market is still rising. The price of cyclohexanone is also rising in the week. The cost of caprolactam is strong. The supply side is slightly supported. In the early period, some parking and maintenance of Yangshan Coal, Luxi Coal and Haili Coal were carried out. The spot supply in the North was reduced, and the spot price in the North rose slightly. However, with the gradual recovery of sea power supply, the latter supply will also ease. The downstream PA6 chip market remains weak, aggregation centers on cost or partial loss, raw material procurement enthusiasm is not high, and the overall market price fluctuation is not large.

3. Future Market Forecast

In the short run, the spot supply of cyclohexanone will not increase significantly. In the long run, the load of Huafeng plant will increase and the export will increase to a certain extent. Within a week, the spot of cyclohexanone factory was tight, and there was no pressure for export. The demand of terminal market remains weak, the downstream slice Market is weak, the profit margin of chemical fiber market is not large, the enthusiasm of entering the market is general, and the solvent market just needs to take delivery. With weak market demand, low profits from caprolactam plants purchasing cyclohexanone and the release of bad news about new capacity, business analysts of cyclohexanone expect the short-term cyclohexanone market to run smoothly with limited room for growth.