SunSirs: After a Weak Decline in CPL, the Market Rebounded (October 9-16)
October 18 2023 13:32:11 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of domestic liquid CPL on October 9th was 13,337 RMB/ton, and on October 16th, the average market price of domestic liquid CPL was 13,050 RMB/ton. CPL prices fell by 2.16% this week.
Analysis review
The market price of CPL fell first and then rose this week. The price of raw material pure benzene had been lowered, and cost support had weakened. Downstream procurement was mainly based on on-demand, with weak terminal demand. As of October 16th, the delivery price of Shandong Hualu Hengsheng CPL Liquid to East China was 12,600 RMB/ton. The settlement price of Sinopec's high-end liquid premium product CPL was 13,200 RMB/ton this week.
The price of raw material pure benzene had slightly decreased this week. On October 9th, the price of pure benzene was 7,880 RMB/ton, and on October 16th, the price of pure benzene was 7,822 RMB/ton, a decrease of 0.73% compared to last week.
This week, the downstream PA6 market weakened and fell, and the market transactions were poor. As of October 16th, the reference average price of domestic PA6 was 14,375 RMB/ton.
Market outlook
SunSirs’ CPL analysts believe that the CPL market had slightly rebounded recently. The market for raw material pure benzene rebounded, with increased cost support, but terminal demand needed to be improved. It is expected that in the short term, the price of CPL will be adjusted with fluctuations of raw materials.
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- 2024-04-26 SunSirs: Negative Factors Increased, and the Trend of CPL Declined (April 15-24)
- 2024-04-12 SunSirs: In early April, the Market for CPL Strengthened
- 2024-03-28 SunSirs: Under the Dominance of Bearish Factors, the Price of CPL Had Fallen (March 18-24)
- 2024-03-20 SunSirs: Supply and Demand Gamed, and the Price of CPL Declined (March 11-15)
- 2024-03-11 SunSirs: Supply Exceeded Demand, Leading to a Decline in the Price of CPL (March 4-8)
