According to the Commodity Market Analysis System of Shengyishe, the domestic cyclohexanone market was weak in November. From November 1st to 29th, the average price of cyclohexanone in the domestic market dropped from 9462 yuan/ton to 9406 yuan/ton, a decrease of 0.59%, and the price decreased by 0.38% year-on-year.
At the beginning of the month, the raw material pure benzene experienced weak fluctuations, with stable cost support and stable spot supply of cyclohexanone. Downstream demand followed up, and the domestic cyclohexanone market operated steadily.
In the first half of the month, the spot price of raw material pure benzene fell, and Sinopec listed twice to lower it to 7750 yuan/ton, lacking cost support. The demand for downstream chemical fibers and solvents in the market is average, and they are mostly purchased on demand. Some production enterprises have restarted their facilities, and there is an expected increase in spot supply. The fundamentals of cyclohexanone are weak, and the trading center has fallen.
In mid month, the raw material pure benzene fluctuated and operated, with relatively stable cost support. Some downstream enterprises of caprolactam reduced production, and the product market rose, driving the cyclohexanone market. Other downstream demand is average, and the increase in cyclohexanone market is hindered by the high price of shipments in the market.
As the end of the month approaches, the raw material pure benzene is facing a weak consolidation. Sinopec pure benzene has been listed and lowered to 7550 yuan/ton, lacking cost support. The commodity volume of cyclohexanone is not high, but downstream demand is weak, and more purchases are made on demand. The domestic cyclohexanone market is experiencing a weak consolidation.
On the cost side, the domestic pure benzene market was operating weakly in November. As of November 29th, the benchmark price of pure benzene for Shengyishe was 7445.50 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 affected by negative 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 about 60%, which is at a relatively low level. The short-term supply of cyclohexanone is influenced by favorable factors.
On the demand side, the domestic market for caprolactam saw a narrow increase in November, with cyclohexanone units mainly supporting downstream production of caprolactam. Caprolactam is one of the main downstream sources of cyclohexanone. Some companies may undergo maintenance or load reduction of caprolactam units, resulting in tight spot supply in the market and stable downstream demand. Supported by supply and demand, the market trend of caprolactam is improving. As of November 29th, the benchmark price of caprolactam for Shengyishe is 13250.00 yuan/ton. The demand for cyclohexanone is temporarily positive.
In the future market forecast, the raw material pure benzene will operate in a volatile manner, and the cost pressure will not decrease. The spot supply and demand of cyclohexanone are weak, and the cyclohexanone analyst from Business Society predicts that the domestic cyclohexanone market will mainly consolidate in the short term.
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