① [Chempricehub] September 21: Reports suggest that the US and Iran may resume negotiations, easing market concerns and causing international crude oil prices to fall. NYMEX October crude oil futures closed at $95.78/barrel, down $4.52/barrel (-4.51% MoM); ICE November Brent crude futures closed at $100.34/barrel, down $3.53/barrel (-3.40% MoM). China INE November 2026 crude oil futures fell by 23.6 yuan to 730.8 yuan/barrel, with night session trading dropping another 16.5 yuan to 714.3 yuan/barrel.
② Today, the domestic cyclohexanone capacity utilization rate stands at approximately 59.7%. The integration trend of cyclohexanone production is well-established, with most facilities co-producing caprolactam. Supply of commercial-grade product remains stable, while downstream fiber orders are being fulfilled on an as-needed basis.
③ Sinopec refineries in East, South, and Central China have reduced pure benzene prices by 300 yuan/ton to 9,600 yuan/ton, effective from September 18.
Table 1: Domestic Cyclohexanone Price Summary (Unit: Yuan/Ton)
| Market | Specification | Sep 21 | Sep 22 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 10475 | 10475 | 0 | 0% |
Referencing the East China market, today's cyclohexanone price range is 10,450–10,500 yuan/ton, largely flat compared to the previous trading day. Pure benzene feedstock prices are fluctuating, offering little cost support. Downstream purchasing enthusiasm is weak, spot supply is ample, and prices are trending downward amid volatility.
Today, the integrated cyclohexanone-caprolactam production model continues to mature. Supply of commercial-grade cyclohexanone remains stable, ensuring consistent market availability.
Cost pressures from raw materials persist, while downstream demand remains moderate. Sellers face significant pressure to offload inventory at high prices. In the short term, cyclohexanone market trends are expected to follow pure benzene in a consolidation pattern.
Pure Benzene Market: On September 22, transaction centers in the East China pure benzene market continued to rise, with deals closing between 9,800–10,000 yuan/ton, aligning with morning expectations. Inventory levels at major East China ports remain absolutely low, and incoming shipments are limited, maintaining a tight spot supply situation. End-of-month buy-ins for uncovered positions are further boosting market sentiment. Prices in Shandong also rose simultaneously, providing linked support to the East China market. Mid-to-late month and far-month prices saw slight increases, sustaining the "strong near-term, weak long-term" structure.
Caprolactam: Today, the East China caprolactam market price was 14,150 yuan/ton (acceptance payment, delivered), down 150 yuan/ton from the previous working day. The caprolactam market is characterized by supply-demand tug-of-war; downstream counter-offers are trending lower, leading to a slightly weak and stalemate-like market condition.
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