The domestic market of cyclohexanone continued to decline this week. According to the data of business association monitoring, the average price of domestic producers of cyclohexanone was 8033 yuan/ton at the beginning of the week and 7800 yuan/ton at the end of the week. The price dropped by 2.90% in the week, 35% compared with the same period last year.
II. Market Analysis
Product: Cyclohexanone market continued to decline this week, the market turnover is average. The pure benzene market has risen slightly, and the cost support is still acceptable. The spot supply of cyclohexanone manufacturer is relatively stable, and the manufacturer’s delivery pressure is on the high side. The downstream chemical fibre market is weaker, the caprolactam manufacturers with cyclohexanone gap are overhauled or reduced, the purchasing volume is less, the confidence in the future market is insufficient, the solvent market just needs to be replenished, and the market wait-and-see atmosphere is strong. Shipment of cyclohexanone manufacturers is blocked. At present, the ex-factory price of cyclohexanone is more than 7600 yuan/ton cash withdrawal, and the transaction is normal.
Industry chain: raw materials, pure benzene, this week East China pure benzene market continued to rise slightly. Driven by the reduction of import shipment date in June, the decrease of port stock and the rebound of styrene price, East China traders have been actively speculating, and the market focus has continued to rise. Sinopec’s increase of 50 yuan/ton to 4550 yuan/ton in the listing of pure benzene has also played a certain role. In addition, the reduction of low-priced goods in the north and the increase of hydrobenzene prices during the week also improved the willingness and enthusiasm of downstream buying. Caprolactam: This week, the domestic caprolactam liquid market fell slightly stable. At the beginning of the week, Sinopec’s listed price dropped again from 300 yuan to 12,200 yuan/ton, and spot price fell slightly. The price of caprolactam has fallen to the vicinity of break-even line. With the stopping and maintenance of petrochemical plants and the decrease of load in Luxi, the spot supply of caprolactam in the North continues to decrease, the supply and demand of caprolactam are relatively balanced, and the market decline is delayed.
3. Future Market Forecast
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There is no plan for short-term cyclohexanone spot delivery, but manufacturers have spot pressure. Weiming Petrochemical plans to put into operation 150,000 tons of phenol-based cyclohexanone unit in July and Huafeng plans to put into operation 200,000 tons of cyclohexanone unit in July. It is expected that the spot pressure will continue to increase next week. From the cost point of view, the pure benzene market is slightly upward adjustment, and the cost support is relatively stable. On the demand side, the start-up load of caprolactam market is obviously reduced, the demand for cyclohexanone is less, and the support of chemical fiber market is weak. Generally speaking, the supply of cyclohexanone may exceed the demand. Cyclohexanone analysts, a business association, predict that the market for cyclohexanone will be weak next week and that there may be little room for decline.