SunSirs: In early April, the Market for CPL Strengthened
April 12 2024 11:11:52 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the average market price of domestic CPL on April 1st was 12,694 RMB/ton, and on April 10th, the average market price of domestic CPL was 12,855 RMB/ton. In early April, the price of CPL increased by 1.27%.
Analysis review
In early April, the market price of CPL increased. The price of raw material pure benzene had increased, leading to increased cost support. The maintenance of CPL units had increased, resulting in a decrease in market supply and stable downstream demand. The weekly settlement price of Sinopec high-quality liquid CPL was 13,120 RMB/ton.
Raw material pure benzene market: In early April, the price of pure benzene in China increased. On April 10th, the reference price for pure benzene was 8,720.50 RMB/ton, an increase of 2.73% compared to April 1st (8,488.83 RMB/ton). As of April 10th, the price of Sinopec’s pure benzene was 8,800 RMB/ton.
Downstream PA6 market: In early April, the domestic PA6 market remained stable with minor fluctuations, and various spot prices fluctuated, showing a stable and positive overall trend. As of April 10th, the average reference price of PA6 in China was 14,800 RMB/ton, an increase of 0.17% compared to April 1st (14,775 RMB/ton).
Market outlook
SunSirs’ CPL Analysts believe that the CPL market had been relatively strong and rising recently. Cost and supply side had support, with an increase in favorable factors. It is expected that the market for CPL will mainly continue to rise in the short term.
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- 2024-04-26 SunSirs: Negative Factors Increased, and the Trend of CPL Declined (April 15-24)
- 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)
- 2024-03-04 SunSirs: The Price of CPL Fluctuated and Increased in February
