SunSirs: Shandong Cyclohexanone Market Fell Last Week

Price trend

According to the commodity market analysis system of SunSirs, on August 8, the ex-factory price of cyclohexanone in Shandong Province was 7,187 RMB/ton. Compared with August 1 (the reference price of cyclohexanone was 7,262 RMB/ton), the price dropped by 75 RMB/ton, a decrease of 1.03%.

Analysis review

According to the SunSirs’ Commodity Market Analysis System, the domestic cyclohexanone market in Shandong Province experienced an overall decline in the first week of August. In the first few days of the month, the Shandong cyclohexanone market was weak and consolidating, with minimal adjustments to market fundamentals. On the 7th, a major Shandong manufacturer lowered its cyclohexanone price by 100 RMB/ton. This price adjustment led to a slight decline in the market center. As of August 8th, the reference price of cyclohexanone in Shandong Province was around 7,150-7,200 RMB/ton.

Fundamentals

Supply and Demand: Entering August, the cyclohexanone market remained generally well-supplied, though some factories faced some supply pressure. Supply-side support for the cyclohexanone market remained weak. On the demand side, downstream cyclohexanone purchases were primarily on-demand, and there was temporarily no significant positive support from the market.

Cost: As of August 8, the market for benzene, a raw material, was experiencing volatile price increases, putting some cost pressure on cyclohexanone. As of August 7, the reference price of benzene was 6,125.33 RMB/ton, up 0.82% from 6,075.33 RMB/ton on August 1.

Market outlook

As of August 8, the trading atmosphere of Shandong cyclohexanone market was weak, and the mentality of the industry players was average. The cyclohexanone data analyst of SunSirs predicts that in the short term, the domestic Shandong cyclohexanone market will mainly operate in a range of consolidation, and more attention should be paid to the changes in the news on the supply and demand sides.

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