SunSirs: Under Cost Support, the Price of CPL Had Increased (February 1-7)
February 08 2024 14:34:46 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of domestic CPL on February 1st was 13,735 RMB/ton, and on February 7th, the average market price of domestic CPL was 13,775 RMB/ton. This week, the price of CPL had increased by 0.29%.
Analysis review
The market price of CPL had increased this week. This week, the price of raw material pure benzene had increased, leading to increased cost support. Some CPL enterprises had reduced their load operation, resulting in a decrease in market supply. Downstream procurement was mainly based on demand, with fewer new orders in the pre holiday market. As of February 7th, the settlement price of Sinopec's high-end liquid premium product, CPL, this week was 14,150 RMB/ton.
The price of raw material pure benzene had increased this week. As of February 7th, the reference price for domestic pure benzene was around 8,192 RMB/ton. This week, the price of Sinopec pure benzene was 8,300 RMB/ton (prices in Shandong and Hebei regions increased by 450 RMB/ton simultaneously).
The downstream PA6 market remained stable this week. Enterprise owners supplied old customers with stable shipping prices. As of February 7th, the average reference price for domestic PA6 was 14,775 RMB/ton.
Market outlook
According to analysts from SunSirs, the CPL market had been steadily rising recently due to favorable factors such as rising costs and reduced supply. It is expected that the market for CPL will remain strong in the short term, with prices mainly consolidating stronger.
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- 2024-03-20 SunSirs: Supply and Demand Gamed, and the Price of CPL Declined (March 11-15)
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