① 【Chempricehub】Sep 18: International oil prices fell as expectations for the repair of Saudi oil pipelines improved, coupled with signs of easing tensions in the Middle East. NYMEX crude oil futures (October contract) closed at $100.3/bbl, down $1.61/bbl (-1.58% WoW); ICE Brent crude oil futures (November contract) closed at $103.87/bbl, down $0.95/bbl (-0.91% WoW). China INE crude oil futures (Nov 2026 contract) fell by 50.6 to 754.4 CNY/bbl; the night session dropped by 19.6 to 734.8 CNY/bbl.
② Today, the domestic capacity utilization rate for cyclohexanone stood at approximately 59.7%. The trend toward integrated production is well-established, with most plants co-producing caprolactam. Supply of merchant-grade cyclohexanone remains stable, while downstream chemical fiber orders are being placed on an as-needed basis.
③ Sinopec refineries in East, South, and Central China lowered pure benzene prices by 300 CNY/ton, effective Sep 18, bringing the price to 9,600 CNY/ton.
Table 1: Domestic Cyclohexanone Price Summary (Unit: CNY/ton)
| Market | Specification | Sep 18 | Sep 20 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 10625 | 10575 | -50 | -0.47% |
Data Source: Chempricehub
Based on the East China market, today's reference price for cyclohexanone was 10,550–10,600 CNY/ton, a decrease of 50 CNY/ton from the previous trading day (-0.47%). Feedstock pure benzene traded weakly, lacking cost-side support. Downstream purchasing enthusiasm remained low, spot supply was ample, and prices fluctuated downward.
(Note: Figures 1 and 2 regarding weekly average and East China price trends have been omitted as per instructions.)
Today, integration between cyclohexanone and caprolactam production remained robust. Merchant supply of cyclohexanone was stable, ensuring consistent market availability.
(Note: Figures 3 and 4 regarding capacity utilization trends and profit-price comparison have been omitted as per instructions.)
Cost pressure from feedstocks persists, while downstream demand remains moderate. There is significant pressure to sell cyclohexanone at high prices. In the short term, the cyclohexanone market is expected to consolidate alongside pure benzene.
Pure Benzene Market: No transactions were recorded in the East China pure benzene market today. Buyer offers ranged from 9,520 to 9,600 CNY/ton, largely consistent with morning forecasts. The US is preparing large-scale military action against Houthi rebels in Yemen in retaliation for attacks on Saudi Arabia. Rising dark pool oil prices boosted domestic buying sentiment. However, with pure benzene futures markets closed today, the spot market lacked guidance from futures prices. Holders had insufficient pricing references and adopted cautious offer strategies, leading to widespread wait-and-see sentiment.
Caprolactam: Today, the East China caprolactam market price stood at 14,300 CNY/ton (accepted bills of lading delivered), down 100 CNY/ton from the previous working day (-0.69%). Upstream pure benzene consolidated. Following Sinopec's reduction of pure benzene posted prices by 300 CNY/ton to 9,600 CNY/ton, cost support weakened. Downstream operators showed limited confidence, compounded by increased caprolactam supply which eased the supply-demand balance. With both cost-side and supply-side positives diminishing, market prices declined.
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