According to the Commodity Market Analysis System of the Business Society, the domestic cyclohexanone market was weak in October. From October 7th to 27th, the average market price of cyclohexanone in China dropped from 9725 yuan/ton to 9525 yuan/ton, a decrease of 2.06%, and the price decreased by 2.81% year-on-year.
At the beginning of the month, the raw material pure benzene experienced weak fluctuations, with major production enterprises lowering their listing prices and insufficient cost support. Downstream chemical fibers are purchased on demand, and the supply of goods is stable. Due to the weak industry mentality, the focus of market transactions has weakened. In the middle of the month, the raw material pure benzene oscillated and operated, with relatively stable cost support. Downstream chemical fibers and solvents are mostly purchased on demand, with a general trading atmosphere and narrow market consolidation. In the latter half of the month, the raw material pure benzene was operating in a volatile manner, with stable cost support. Some units were shut down, but downstream demand was average and more purchases were made on demand, resulting in a narrow weakening of market prices.
On the cost side, the domestic pure benzene market was sorted and operated in October. As of October 27th, the benchmark price of pure benzene for Shangshang Society was 7917.17 yuan/ton, a decrease of -3.12% compared to the beginning of this month (8172.17 yuan/ton). In the cost composition of the traditional cyclohexanone process route, pure benzene accounts for 53%. The market trend of pure benzene directly affects the price of cyclohexanone, and the short-term cost of cyclohexanone is affected by bearish factors.
On the supply side, according to the Commodity Market Analysis System of Business Society, the domestic production capacity of cyclohexanone is about 6.55 million tons, and the current operating load is around 60%, which is at a relatively low level. The main production enterprises have limited product supply due to device maintenance. The short-term supply of cyclohexanone is influenced by positive factors.
On the demand side, the domestic caprolactam market was weak in October, and the production of downstream caprolactam was mainly supported by cyclohexanone units. Caprolactam is one of the most important downstream products of cyclohexanone. The price of raw material pure benzene fluctuated slightly, and the cost side has not changed much yet, but it is still at a high level. Under cost pressure, some caprolactam companies have raised their prices. Downstream procurement on demand, with average terminal demand. As of October 27th, the benchmark price of caprolactam for Business Society is 13062.50 yuan/ton. The demand for cyclohexanone is temporarily positive.
According to future market forecasts, the raw material pure benzene is operating in a volatile manner, with a relatively stable cost profile. Downstream purchases are made on demand, and cyclohexanone analysts from Business Society predict that the short-term domestic cyclohexanone market will mainly consolidate sideways.
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