Lack of Effective Support, Weak Operation of Cyclohexanone in Shandong

October 16, news

According to the commodity market analysis system, on October 16, the factory price of cyclohexanone in Shandong, China, was referenced at 6650 CNY/ton. Compared to October 9 (when the cyclohexanone price was referenced at 6900 CNY/ton), the price has been reduced by 250 CNY/ton, a decrease of 3.62%.

This week, the market focus of cyclohexanone in Shandong has declined, with the market operating weakly.

From the commodity market analysis system, it can be seen that this week, the overall cyclohexanone market in Shandong region of China has shown a weak downward trend. During the week, the negotiation focus of the cyclohexanone market in Shandong continuously moved towards lower levels, with factories and suppliers lowering the selling price of cyclohexanone, by an amount around 50-150 CNY/ton. As of October 16th, the reference price for cyclohexanone in the Shandong region is approximately 6,600 to 6,650 CNY/ton.

Analysis of Market Influencing Factors

Supply and Demand: Currently, the overall spot supply of cyclohexanone in the market is ample, with the supply side under pressure. Downstream demand is slow to follow, resulting in poor supply and demand transmission, and the supply and demand situation provides insufficient support to the market.

Cost Perspective: Recently, the pure benzene market on the raw materials side has been trending downward, leading to a continued weakening of cost support for cyclohexanone. As of October 15, data monitoring shows that the benchmark price for pure benzene stands at 5,542 CNY per ton, down 5.24% from 5,848.67 CNY per ton on October 1.

Market Outlook Analysis

Currently, the overall trading atmosphere in the cyclohexanone market is mild, and downstream users mostly purchase cautiously at low prices. The transmission between supply and demand remains relatively loose. Cyclohexanone data analysts predict that in the short term, the cyclohexanone market in Shandong will mainly operate with a weak consolidation, and more attention should be paid to changes in supply and demand news.