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SunSirs: Supply Was Tight, the Price of CPL Increased (November 20-24)
November 27 2023 15:13:51SunSirs(John)

Price trend

According to the Commodity Market Analysis System of SunSirs, the average market price of domestic liquid CPL on November 20th was 12,975 RMB/ton, and on November 24th, the average market price of domestic liquid CPL was 13,237 RMB/ton. This week, the price of CPL was increased by 2.02%.

Analysis review

The market price of CPL had increased this week. The price of raw material pure benzene had been lowered, weakening cost support. Some companies underwent maintenance or load reduction of CPL units, resulting in tight spot supply in the market and stable downstream demand. Supported by supply and demand, the market trend of CPL was improving. As of November 24th, Sinopec's high-end liquid premium product, CPL, had a self delivery settlement price of 13,500 RMB/ton this week.

This week, the price of raw material pure benzene had slightly decreased. On November 20th, the price of pure benzene was 7,717 RMB/ton. On Friday (November 24th), the price of pure benzene was 7,642 RMB/ton, a decrease of 1.39% from last week. This week, the price of Sinopec pure benzene was 7,750 RMB/ton (prices in Shandong and Hebei regions were synchronized).

Downstream PA6 prices had slightly increased this week. The domestic PA6 market had rebounded narrowly, with some spot prices rising. As of November 24th, the average reference price for domestic PA6 was 14,487.5 RMB/ton.

Market outlook

SunSirs’ CPL Analysts believe that in recent days, the CPL market was mainly upward. The market for raw material pure benzene was weakening, with insufficient cost support. In the later stage, as the enterprise facilities gradually recover, the supply shortage phenomenon had been alleviated. It is expected that the price of CPL will consolidate and operate in the short term.

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