SunSirs: The Contradiction between Supply and Demand Was Prominent, and the Market for Cyclohexanone Continued to Decline
June 22 2021 13:50:09 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of June 21, the average domestic market price of cyclohexanone was 10,260 RMB/ton, the price fell 7.40% month-on-month and rose 57.85% year-on-year.
Analysis review
After the Dragon Boat Festival, the production of CPL was reduced and the demand for chemical fiber decreased, but the supply of cyclohexanone was abundant, and the price center gradually declined.
In terms of raw materials, Sinopec’s price of pure benzene was lowered by 150 RMB/ton to 7,750 RMB/ton, which was implemented uniformly by all its refineries. The price was implemented from June 11. On the downstream side, Sinopec’s high-end CPL quotation held steady at 14,100 RMB/ton this week.
Market outlook
The cyclohexanone market was operating weakly, and the market supply increased, and manufacturers shipped with the market. As the downstream CPL plant was more concentrated for maintenance, the demand for cyclohexanone was reduced, the supply of cyclohexanone was abundant, and the atmosphere in the market was relatively bearish. Cyclohexanone analysts of SunSirs predict that the domestic cyclohexanone market will continue to decline in the short term.
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