According to commodity market analysis, from October 16 to 23, the average price of domestic cyclohexanone market fell by 0.91% within the cycle, with the price falling by 6.68% month-on-month and 3.79% year-on-year. The raw material pure benzene operates in oscillation, and the cost support is relatively stable. Downstream chemical fibers and solvents are mostly purchased on demand, the trading atmosphere is average, and the market is consolidating in a narrow range.
On the cost side, raw material pure benzene: The domestic pure benzene market showed an M-shaped trend, with port inventories destocking slightly and supported by a sharp rise in crude oil futures. The negotiated price of pure benzene rose rapidly; however, it was affected by the rapid price increase and the slight fall in crude oil. Next, the pace of market procurement slowed down slightly. In the cost structure 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 negatively affected.
On the supply side, domestic cyclohexanone production capacity is approximately 6.55 million tons, and the current operating load is around 60%, which is at a low level. The main production enterprises, Shijiazhuang Coking, Yangmei Fengxi, Shandong Hongda, Jining Bank of China, Shandong Haili, and Jiangsu Haili, have limited product supply. The short-term supply of cyclohexanone is affected by positive factors.
On the demand side, cyclohexanone devices are mostly supporting the downstream production of caprolactam, and caprolactam is one of the most important downstream products of cyclohexanone. The caprolactam market is improving slightly. Recently, the styrene-hexane difference has been low, and some companies have suffered losses. Seller intentions have slightly increased under cost pressure. The low-price trading atmosphere of downstream PA6 chips has improved. Chip prices have partially recovered. The mentality of polymerization factories is slightly better, and raw material procurement is acceptable. The demand for cyclohexanone is temporarily positive.
The market outlook predicts that pure benzene, the raw material, will operate in shock and the cost will be relatively stable. The spot supply and demand of cyclohexanone are balanced, and cyclohexanone analysts from Business Insider expect that the domestic cyclohexanone market will consolidate in the short term.
Post time: Oct-25-2023