According to the Commodity Market Analysis System of Business Society, the domestic cyclohexanone market fluctuated and rose in February. From February 1st to 29th, the average price of cyclohexanone in the domestic market increased from 9531 yuan/ton to 10012 yuan/ton, an increase of 5.05%, and the price increased by 5.5% year-on-year.
At the beginning of the month, the domestic cyclohexanone market rose, and the raw material pure benzene market was operating strongly. The cost pressure continued to increase, and the spot supply of cyclohexanone market was not high. Downstream solvents were gradually closed, and chemical fibers were purchased on demand. Due to cost pressure, the market low price continued to decrease.
After the holiday, the domestic price of cyclohexanone tends to be strong, and the price of pure benzene has increased, resulting in greater cost pressure. Under cost pressure, the offer for cyclohexanone has been actively raised, and downstream demand has been followed up, resulting in a decrease in low-priced supply in the market.
On the cost side, the price of pure benzene at ports in East China continued to rise significantly in February, with a slight decline in the latter half of the year. As of February 29th, the benchmark price of pure benzene at Shengyishe was 8478.83 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 trend of cyclohexanone, and the short-term cost of cyclohexanone is influenced by positive factors.
On the demand side, cyclohexanone units are mainly equipped with downstream production of caprolactam, which is one of the main downstream sources of cyclohexanone. The caprolactam market saw a slight increase in February. Before the Spring Festival, transportation was affected by rainy and snowy weather in some northern regions, and downstream stocking was concentrated. The supply of caprolactam in the market was tight, and prices were firm. After the Spring Festival, the price of upstream pure benzene has continued to rise, with strong cost support. The price of caprolactam has also risen, and the market continues to show a preference trend. Towards the end of the month, the price of pure benzene has fallen, and caprolactam has followed suit with a slight pullback. As of February 29th, the benchmark price of caprolactam for Shengyishe is 13912.50 yuan/ton. The demand for cyclohexanone is temporarily positive.
In the future market forecast, the raw material pure benzene is expected to decline weakly, and the cost support will weaken. Downstream demand will follow up, and the market spot supply will be stable and abundant. Business Society cyclohexanone analysts predict that the domestic cyclohexanone market will be weak and consolidate in the short term.
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