Positive Factors Support January Price Increase of Cyclohexanone in Shandong by Nearly 9%

February 2nd, according to news,

According to the commodity market analysis system, on January 31, 2025, the factory price of cyclohexanone in Shandong, China, was 6900 CNY/ton. Compared to January 1 (when the cyclohexanone price was 6387 CNY/ton), the price increased by 513 CNY/ton, a price increase of 8.66%.

Price Trend Review

From the commodity market analysis system, it can be seen that in January 2026, the market for high-quality cyclohexanone in Shandong region of China showed a trend of initial stability followed by an accelerated increase. In January, the market focus for cyclohexanone in Shandong continuously shifted towards higher levels, with prices cumulatively increasing by 500-600 CNY/ton within the month. On January 31, the reference price for cyclohexanone in Shandong was around 6850-6950 CNY/ton.

Early January (Jan. 1–Jan. 13): Prices fluctuated narrowly around a central point of 6,300 CNY/ton, with a slight dip to as low as 6,240 CNY/ton during the period due to temporary reductions in output at some facilities. Mid-January (Jan. 14–Jan. 20): The supply-demand balance began to tighten, causing prices to rapidly rise from 6,300 CNY/ton to 6,550 CNY/ton, with a weekly price increase of 3.97%. Late January (Jan. 21–Jan. 31): With downstream stockpiling ahead of the holiday season and stronger support from raw material supplies, prices entered an accelerated upward phase. By the end of the month (January 31), prices had climbed to 6,900 CNY/ton, marking a cumulative monthly increase of 600 CNY/ton and a price rise of 9.61%.

Analysis of Core Impact Factors

Raw Materials Side: Pure benzene prices strengthen, highlighting cost support.

Cyclohexanone's core raw material, pure benzene, continued to rise in January, with the cost side providing increasingly strong support for cyclohexanone. The market trend of cyclohexanone followed the upward trend of the raw material.

Supply Side: Plant maintenance combined with reduced load leads to a contraction in effective supply.

In January 2026, the operating rate of China's cyclohexanone industry was generally reduced. Multiple major facilities in Shandong and East China entered their annual maintenance period, leading to a significant decrease in the overall supply of the cyclohexanone market.

Demand Side: Pre-holiday stockpiling by downstream users leads to a concentrated release of procurement demand.

Downstream industries such as caprolactam, coatings, and adhesives enter the stockpiling cycle before the Chinese New Year. Caprolactam companies, to ensure production in the first quarter, concentrate on purchasing cyclohexanone, with a noticeable increase in procurement volume. The coating and adhesive industries, driven by the need to fulfill orders before the holiday, have increased their stockpiling enthusiasm, further amplifying market demand. Some traders, optimistic about future prices, are actively stockpiling, exacerbating the tight supply and demand situation in the market.

Market Outlook Analysis

Currently, the cyclohexanone market has a good trading atmosphere. However, as logistics come to a halt and the Spring Festival holiday approaches, overall market trading will gradually become quieter, with cyclohexanone prices likely to fluctuate at high levels. After the holiday, if downstream stocking demands have been preemptively exhausted, there may be pressure for the cyclohexanone market to correct. Specific developments will require close attention to changes in supply and demand.