Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of domestic CPL on March 4th was 13,850 RMB/ton, and on March 8th, the average market price of domestic CPL was 13,525 RMB/ton. The price of CPL fell by 2.35% this week.

Analysis review

The market price of CPL had fallen this week. This week, the price of raw material pure benzene had been lowered, and cost support has weakened. On March 8th, the market had sufficient supply and limited downstream demand, leading to an increase in bearish sentiment in the market. As of March 7th, the delivery price of Hualu Hengsheng CPL to East China was 13,100 RMB/ton, and the actual transaction was negotiated.

This week, the price of raw material pure benzene had dropped. On March 4th, the price of pure benzene was 8,275 RMB/ton. On Friday (March 8th), the price of pure benzene was 8,261 RMB/ton, a 2.61% decrease from last week. This week, the price of Sinopec's pure benzene was 8,350 RMB/ton (prices in Shandong and Hebei regions fell by 200 RMB/ton simultaneously).

The downstream PA6 market prices had fallen this week. Enterprise quotations had been lowered, mainly for old customers. As of March 7th, the average reference price for domestic PA6 was 15,150 RMB/ton.

Market outlook

SunSirs’ CPL Analysts believe that the CPL market had weakened recently. Insufficient cost support, coupled with oversupply in the market, had led to an increase in bearish factors. It is expected that the short-term market for CPL will mainly continue to consolidate be weaker.

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