Price Trend

The domestic market of cyclohexanone dropped sharply this week. According to the monitoring data of business associations, the domestic price of cyclohexanone was 10,900 yuan/ton at the beginning of the week and 10,500 yuan/ton at the end of the week. The price of cyclohexanone fell by 3.67% in the week, 12.50% compared with the same period last year.

II. Market Analysis

Products: Cyclohexanone market prices fell sharply this week, the overall stability of the crude oil market is better, cost support is still acceptable. This week, the total supply of cyclohexanone manufacturers increased slightly. Haili Dafeng, Jiangsu, shipped normally this week, and export sales increased slightly. Although the inventory pressure was not high, downstream caprolactam manufacturers were more bullish on cyclohexanone. The volume of cyclohexanone purchased in the market was lower than in the earlier period, the speed of manufacturer’s shipment slowed down, the quotation continued to decline, the market transaction price fell, and the solvent market was more on demand. Purchase, the overall volume is scarce, on-site trading atmosphere is flat. Up to now, the mainstream offer in Shandong market has arrived at 10 400-10 500 yuan/ton cash delivery, the mainstream offer in East China market has arrived at 10 600-10 700 yuan/ton cash delivery, and the mainstream negotiation in South China market has arrived at 10 800-10 900 yuan/ton cash delivery.

Industry chain: raw materials, pure benzene, this week the price of pure benzene consolidation. In terms of price, the mainstream negotiations in East China range from 4700 yuan to 4750 yuan per ton, while those in Shandong range from 4400 yuan to 4500 yuan per ton. Caprolactam: This week, the domestic caprolactam liquid spot market prices narrowly rebounded. The phenomenon of supply and demand game still exists. The pure benzene market showed a slight strengthening after the shock consolidation in the week, and the cost of caprolactam was slightly supported. Load reduction phenomenon in downstream polymerization plant, slice market overall demand is general, aggregation plant raw material procurement enthusiasm is general, more maintenance follow-up on demand.

3. Future Market Forecast

From the cost point of view, the crude oil market is steadily becoming stronger, and the cost support is still acceptable. On the supply side, the overall supply of cyclohexanone increased slightly this week, together with the slowing down of chemical fibre orders and low turnover. This week, the inventory of manufacturers increased slightly, but the pressure was not great. On the demand side, downstream caprolactam manufacturers shipped generally and the market tended to be stable. On March 25, Nanjing Dongfang, a 200,000-ton caprolactam plant had maintenance plans for cyclohexanone. Demand may decline slightly, and solvent market will purchase more on demand. Cyclohexanone analysts, business associations, predict that the market for cyclohexanone will continue to fall next week, with more caprolactam maintenance plans in April, and cyclohexanone will be weak in the short term.