① [Chempricehub] Nov 6: The market is focused on the risk of renewed conflict between the U.S. and Iran, while mediators continue to push for peace talks, leading to a slight rise in international crude oil prices. NYMEX WTI futures (December contract) rose by $0.31/bbl to $90.83, up +0.34% day-on-day; ICE Brent futures (January contract) rose by $0.03/bbl to $98.32, up +0.03% day-on-day. China INE crude oil futures (March 2027 contract) rose by CNY 1.2 to CNY 631.8/bbl, with night session gains of CNY 2.1 to reach CNY 633.9/bbl.
② Today, domestic cyclohexanone capacity utilization stands at approximately 60%. The trend toward integrated production is well-established, with most facilities co-producing caprolactam. Supply of merchant-grade cyclohexanone remains stable, while downstream chemical fiber orders are being placed according to demand.
③ Sinopec refineries in East, South, and Central China have cut pure benzene prices by CNY 300/ton to CNY 8,200/ton, effective November 9.
Table 1: Domestic Cyclohexanone Price Summary (Unit: CNY/ton)
| Market | Specification | Nov 6 | Nov 9 | Change | Change % |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 10,800 | 10,450 | -350 | -3.24% |
Based on the East China market, today’s cyclohexanone price reference range is CNY 10,400–10,500/ton, representing a decline of approximately 3.24% from the previous trading day. Falling raw material pure benzene prices have weakened cost support, while downstream buyers remain cautious about high prices, causing market prices to continue their downward trend.
Today, integration between cyclohexanone and caprolactam production remains robust, resulting in reduced supply of merchant-grade cyclohexanone. Follow-up orders from the chemical fiber sector remain limited.
With pure benzene trending weakly and lacking cost support, alongside moderate downstream demand and stable spot supply, the cyclohexanone market is expected to remain weak in the short term.
Pure Benzene Market: On November 9, spot prices for pure benzene in East China fluctuated downward, with transaction discussions ranging from CNY 8,090 to 8,340/ton, largely consistent with morning forecasts. A combination of easing geopolitical tensions causing cost collapse and marginal weakening in supply-demand dynamics has intensified bearish sentiment. Port inventory holders are actively offering discounts to sell, and port withdrawals are brisk. Although inventories have decreased, import arrivals are expected to increase later in the month, suggesting that the short-term downtrend will be difficult to reverse.
Caprolactam: Today, the market price for caprolactam in East China stood at CNY 12,600/ton (acceptance payment delivered), remaining stable compared to the previous working day. At the start of the week, caprolactam producers had not issued clear quotations, and the market remained predominantly in a wait-and-see mode.
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