The domestic market of cyclohexanone fell slightly this week. According to the monitoring data of business associations, the average price of domestic producers of cyclohexanone was 8433 yuan/ton at the beginning of the week and 8333 yuan/ton at the end of the week, with a drop of 1.19% in the week, which was 30.56% lower than that of the same period last year.
II. Market Analysis
Products: Cyclohexanone market continued to decline slightly this week, pure benzene market prices fell, cost support was unstable, and the downstream caprolactam market spot weakness fell, purchasing cyclohexanone profit was thin, chemical fiber orders were less in the week, solvent Market on demand purchasing, on-the-spot bullish sentiment on the future market was strong, real orders were general. Luxi spot does not export in the week, but the downstream demand is general, factory shipments are blocked, and the external quotation is lowered. As of Thursday, the mainstream shipment price of cyclohexanone factory is around 8,100 yuan/ton, and it is now remitted to the factory, which is about 500 yuan/ton lower than last week.
Industry chain: raw materials, pure benzene, this week, the price of pure benzene weak shock. Earlier in the week, the end of the month to fill the gap to drive up the offer of pure benzene, East China reported a high of 5280 yuan per ton in the week, but the purchase was relatively cautious. Although the price of pure benzene in the United States has fallen in recent months, the price in the distant months has remained unchanged, and the arbitrage window between the United States and South Korea is still open, which supports the price of pure benzene in Korea. The price fluctuation of Shandong Geotechnical Refining has softened in the past week. The downstream profit is small, and the price of hydrobenzene is low. Buyers are resistant to high-priced pure benzene. Pure benzene stocks accumulated in the refinery, and continued to reduce the price of shipments. Caprolactam: This week, the domestic caprolactam liquid spot market is weak. Recently, the market is mainly affected by the demand side. The terminal demand is short of good stimulation. In addition, due to high temperature and environmental protection problems, the downstream market demand for PA6 chips is weakening, prices are falling, the delivery of aggregate factories is not smooth, and the enthusiasm of raw material procurement is declining. Although Sinopec’s contract price has increased, Sinopec’s listed caprolactam price increased 200 yuan/ton to 12800 yuan/ton in August. However, the support of the spot market is limited, the pressure of factory spot delivery is gradually increasing, and the price center of gravity is slightly lower.
3. Future Market Forecast
In the short term, the spot supply of cyclohexanone plant fluctuates little, while the demand for downstream caprolactam may decrease, and the solvent market just needs to be purchased. Considering cost pressures, analysts of Cyclohexanone, a business firm, predict that the short-term market for Cyclohexanone will weaken by a limited margin. In the long run, new production capacity may be released in August, showing a pattern of supply exceeding demand.