Price trend
The cyclohexanone market continued to fall. Sinopec’s listing of pure benzene was lowered by 450 to 8,150 RMB/ton. The mentality on the market was slack. In addition, some of the downstream CPL plants have not restarted, the demand has decreased, the supply of cyclohexanone has increased, and some plants have cut prices for sales. According to the monitoring data of SunSirs, as of July 23, the average domestic market price of cyclohexanone was 10,440 RMB/ton, the price increased by 2.55% month-on-month and 83.70% year-on-year.
Analysis review
In terms of raw materials, Sinopec’s price of pure benzene has been lowered by 300 RMB/ton to 8,150 RMB/ton, which was implemented uniformly by all its refineries from July 21. On the downstream side, CPL and Sinopec’s high-end CPL quotations stabilized at 15,000 RMB/ton this week.
Crude oil prices rebounded, and the pure benzene spot market also rebounded. Regarding cyclohexanone, as the downstream CPL enterprises gradually restart and recover, the demand for cyclohexanone will also increase.
Market outlook
Cyclohexanone analysts of SunSirs predict that the short-term cyclohexanone market will enter the stage of consolidation.
