① 【Chempricehub】Oct 20: The market continues to assess the prospects for US-Iran dialogue, with concerns over supply risks slightly easing and international crude oil prices falling. NYMEX WTI futures (November contract) settled at $101.79/bbl, down $1.87/bbl (-1.80%); ICE Brent futures (December contract) settled at $108.79/bbl, down $0.76/bbl (-0.69%). China INE crude oil futures (December 2026 contract) rose by 8.5 to 727.3 CNY/bbl during the day session but fell by 32.5 to 694.8 CNY/bbl in the night session.
② Today, the domestic cyclohexanone capacity utilization rate is approximately 59.7%. The trend toward integrated production of cyclohexanone and caprolactam has matured, with most units producing both synchronously. Supply of merchant-grade cyclohexanone remains stable, while downstream fiber orders are being followed up on an as-needed basis.
③ Sinopec refineries in East, South, and Central China have reduced pure benzene prices by 200 CNY/ton to 10,600 CNY/ton, effective from October 16.
Table 1: Domestic Cyclohexanone Price Summary (Unit: CNY/ton)
| Market | Specification | Oct 20 | Oct 21 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 11600 | 11600 | 0 | 0% |
Based on the East China market, today’s cyclohexanone reference price range was 11,550–11,650 CNY/ton, a decrease of 25 CNY/ton compared to the previous trading day, representing a drop of approximately 0.22%. Raw material cost pressures persist; spot supply of cyclohexanone remains stable, but downstream buyers are cautious about chasing higher prices, resulting in a stagnant and oscillating market trend.
Today, the integration between cyclohexanone and caprolactam production is well-established, leading to a reduction in merchant-grade cyclohexanone supply. Follow-up orders from the fiber sector remain limited.
Pure benzene is expected to continue oscillating, maintaining pressure on costs. Capacity utilization for merchant-grade cyclohexanone remains low, and downstream procurement is primarily based on immediate needs. In the short term, the cyclohexanone market is expected to follow pure benzene trends, consolidating within an oscillating range.
Pure Benzene Market: On October 21, spot transactions for pure benzene in East China were negotiated at 10,230–10,480 CNY/ton, largely consistent with morning forecasts. International crude oil prices remain high, providing some support on the cost side, and market sentiment has stabilized somewhat. Port withdrawals have been active, with inventories continuing to deplete from low levels. Limited circulating spot resources have led holders to be reluctant to sell at low prices. However, overall downstream profits remain under pressure, resulting in strong resistance to high-priced raw materials and limited willingness to chase rising prices.
Caprolactam: Today, the market price for caprolactam in East China was 14,000 CNY/ton (acceptance-based, delivered), down 100 CNY/ton from the previous working day, a decline of 0.71%. Upstream markets for pure benzene and sulfur have been weak, weakening the cost support for caprolactam. Downstream participants maintain a cautious mindset, with some counter-offers coming in slightly lower, causing the negotiation center for caprolactam to dip marginally. Today, small-volume trades in East China closed at 14,000 CNY/ton (acceptance-based, delivered).
Comments
0