① [Chempricehub] Nov 12: The outlook for US-Iran relations remains uncertain, and market concerns over supply risks persist, driving international oil prices higher. NYMEX crude oil futures (December contract) rose by $2.21 to $88.74/barrel, a day-on-day increase of +2.55%; ICE Brent crude futures (January contract) rose by $3.06 to $95.82/barrel, a day-on-day increase of +3.30%. China INE crude oil futures (January 2027 contract) fell by 11.8 to 595.9 yuan/barrel during the day session but rebounded by 14.6 to 610.5 yuan/barrel in the night session.
② Today, the domestic cyclohexanone capacity utilization rate is approximately 57%. The trend toward integrated production of cyclohexanone and caprolactam is well-established, with most facilities producing both simultaneously. Supply of commodity-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 have lowered pure benzene prices by 300 yuan/ton to 7,900 yuan/ton, effective November 10.
Table 1: Domestic Cyclohexanone Price Summary (Unit: Yuan/Ton)
| Market | Specification | Nov 12 | Nov 13 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 9850 | 9750 | -100 | -1.02% |
Data Source: Chempricehub
Based on the East China market, today's cyclohexanone price reference range is 9,700–9,800 yuan/ton, representing a decline of approximately 1.02% from the previous trading day. While raw material pure benzene prices have stabilized after falling, weak downstream demand has hindered transactions at higher levels, leading to fluctuating downward trends in market prices.
(Note: Figures 1 and 2 regarding weekly average and East China price trends are omitted as per instructions.)
Today, the integration between cyclohexanone and caprolactam production remains robust, resulting in reduced supply of commodity-grade cyclohexanone. Downstream chemical fiber orders have not increased significantly.
(Note: Figures 3 and 4 regarding capacity utilization and profit/price comparison are omitted as per instructions.)
Raw material pure benzene prices have stabilized, providing consistent cost support. However, demand remains weak, and spot supply of cyclohexanone is ample. Consequently, the cyclohexanone market is expected to remain weakly volatile in the short term.
Pure Benzene Market: On November 13, spot prices for pure benzene in East China rose, with transaction negotiations ranging between 7,910 and 8,090 yuan/ton, largely aligning with morning forecasts. With geopolitical risk premiums receding, negative factors affecting costs have been partially released, allowing market sentiment to continue its recovery. Trading activity during the day was moderate, with some holders showing reluctance to sell and decreased willingness to dispose of inventory at low prices. Short-term negative sentiment has been concentrated and released, moving the market into a phase of low-level oscillation and repair.
Caprolactam: Today, the market price for caprolactam in East China stood at 11,400 yuan/ton (acceptance terms, delivered), remaining steady compared to the previous working day. Sentiment in the upstream pure benzene market improved slightly, and trading conditions for downstream PA6 chips at lower price levels also showed signs of improvement. This has bolstered market confidence in caprolactam, with some enterprises indicating intentions to raise quotes. As the weekend approaches, new transactions in the caprolactam market are scarce, and the overall stance today is one of wait-and-see.
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