Weak supply and demand: weak market situation of cyclohexanone in March

According to the monitoring by the Business News Agency, the domestic cyclohexanone market was weak in March. From March 1st to 30th, the average market price of cyclohexanone in China fell from 9483 yuan/ton to 9440 yuan/ton, a decrease of 0.46%, with a maximum amplitude of 1.19% and a year-on-year decrease of 19.09%.


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At the beginning of the month, the raw material pure benzene rose, with upward cost support. The supply of cyclohexanone has decreased, and manufacturers have raised their external quotations. However, the demand for cyclohexanone in the downstream market is mainly high, and the market transaction is average. Therefore, the market growth of cyclohexanone is limited. In the first ten days of this month, the raw material pure benzene was relatively strong, with good cost support. At the same time, some cyclohexanone shipments decreased, resulting in good supply, but terminal demand was weak. Downstream chemical fibers just needed to follow up, and the transaction was average. In the middle of June, the raw material pure benzene significantly decreased, and cost support weakened. Downstream chemical fibers and solvents are just in need of procurement, and the actual price per unit is weakening. Near the end of the month, the spot price of raw material pure benzene was weak and volatile, and cost support weakened. At the same time, some manufacturers increased their supply, while downstream demand was general, the industry’s mentality was weak, and the focus of the cyclohexanone market fell.


On the cost side, on March 30, the benchmark price of pure benzene for the business community was 7213.83 yuan/ton, an increase of 1.55% compared to the beginning of this month (7103.83 yuan/ton). The domestic market price of pure benzene has increased slightly, and the production has decreased. Pure benzene has been removed from warehouses in East China ports, and there are still maintenance plans for later supply devices, easing the pressure on domestic pure benzene supply. The cost of cyclohexanone is significantly positive.


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On the supply side, the unit operating rate in the cyclohexanone industry remained at around 70%, with a slight increase in supply. The main production enterprise, Shanxi Lanhua, is scheduled to stop for maintenance on February 28th, with a plan of one month; Jining Bank of China parking and maintenance; Shutdown and maintenance of Shijiazhuang coking unit. The short-term supply of cyclohexanone was slightly negative.


On the demand side, on March 30, the benchmark price of caprolactam for the business community was 12100.00 yuan/ton, a decrease of -0.82% compared to the beginning of this month (12200.00 yuan/ton). The price of caprolactam, the main downstream product of cyclohexanone, fell. The recent weakening of upstream crude oil prices has affected the purchasing mentality in the downstream market. The overall caprolactam market is still cautious. In addition, some enterprises in the north have increased inventory pressure and partially reduced prices for sales. The overall price center of the cyclohexanone spot market is tending to be lower. The demand side for cyclohexanone was negatively affected.


In the future market forecast, cyclohexanone analysts from the business agency predict that the short-term domestic cyclohexanone market volatility will be dominated by consolidation.


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