SunSirs: Negative Factors Suppressed the Market, and the Shandong Cyclohexanone Market Was Down in October

Price trend

According to data from the SunSirs' commodity market analysis system, on October 30, the ex-factory price of cyclohexanone in Shandong, China, was 6,350 RMB/ton, a decrease of 550 RMB/ton or 7.97% compared to October 1 (when the price was 6,900 RMB/ton).

The cyclohexanone market weakly declined in October, with prices continuing to move towards lower levels

According to the commodity market analysis system of SunSirs, the cyclohexanone market in Shandong, China, has been trending weakly downwards since October. In the first ten days of October, during the holiday, the market was calm with little change in fundamentals. Upon returning to normal after the holiday, the cyclohexanone market cooled down and declined, with the focus of negotiations continuously decreasing, resulting in a 3.62% drop in the first ten days. In the second ten days, the downward trend continued, with prices continuing to decline slightly, and inquiries remaining low, resulting in a 1.5% drop in the second ten days. As of October 30th, the ex-factory price of cyclohexanone in Shandong was around 6,300-6,400 RMB/ton.

Analysis of Factors Affecting Market Trends

Supply and Demand: Strong Supply, Weak Demand, and Obvious Game

In October, the cyclohexanone market saw ample supply, maintaining downward pressure and experiencing slow inventory release. Downstream demand remained cautious, resulting in insufficient demand transmission and a lack of effective market support.

Regarding costs: Costs fluctuated, with support weakening

In October, the benzene market experienced a volatile downward trend, weakening the cost support for cyclohexanone. As of October 29, according to data from SunSirs, the reference price for benzene was 5,155.33 RMB/ton, a decrease of 11.85% compared to October 1 (5,848.67 RMB/ton).

Market outlook

As of October 30, the overall supply of cyclohexanone in the market remained ample, with limited new orders from downstream industries. Cost support remained weak, and overall market support was insufficient. According to data analysts from SunSirs, the cyclohexanone market in Shandong is expected to consolidate within a range in the short term. Further attention should be paid to changes in supply and demand as well as cost factors.

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