SunSirs: With Insufficient Positive Factors, the Shandong Cyclohexanone Market Saw a Slight Downward Adjustment This Week

Price trend:

According to data from the SunSirs commodity market analysis system, on November 6th, the ex-factory price of cyclohexanone in Shandong, China, was 6300 RMB/ton, a decrease of 50 RMB/ton or 0.79% compared to November 1st (when the price was 6,350 RMB/ton).

With weak fundamentals, the Shandong cyclohexanone market saw a slight downward adjustment in its center during the first week of November

According to the commodity market analysis system of SunSirs, in the first week of November (November 1-6), the cyclohexanone market in Shandong, China, generally saw a slight downward trend. During the week, the focus of cyclohexanone negotiations continued to shift towards the lower end of the price range. Some factories in Shandong lowered their ex-factory prices by 50 RMB/ton. As of November 6, the ex-factory price of cyclohexanone in Shandong was around 6,250-6,350 RMB/ton.

Market Factors Analysis

In terms of supply and demand: Entering November, the overall supply and demand imbalance in the Shandong cyclohexanone market persisted. Demand transmission was weak, and demand realization was generally poor. On the supply side, the overall supply was ample, and the slow transmission of supply and demand provided insufficient support to the market, which lacked positive guidance.

On the cost side: The benzene market, a raw material, was fluctuating, providing unstable cost support for cyclohexanone. As of November 6, according to data from SunSirs, the reference price of benzene was 5,218.67 RMB/ton, an increase of 0.9% compared to November 1 (5,172 RMB/ton).

Market Forecast:

As of November 6, trading activity in the Shandong cyclohexanone market was sluggish, with some bearish sentiment and cautious downstream demand. According to analysts at SunSirs, the domestic cyclohexanone market is expected to consolidate and weaken in the short term, with further attention needed to monitor changes in supply and demand.

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