① [Chempricehub] Oct 12: Houthi rebels continue attacks on Saudi Arabia, and instability in the Middle East escalates supply risks, pushing international crude oil prices higher. NYMEX crude oil futures (November contract) rose by USD 1.89/bbl to USD 93.74/bbl, a day-on-day increase of +2.06%; ICE Brent crude oil futures (December contract) rose by USD 1.93/bbl to USD 106.65/bbl, a day-on-day increase of +1.84%. China INE crude oil futures (December 2026 contract) fell by CNY 8.9 to CNY 709.5/bbl, while night session trading saw a rise of CNY 24.7 to CNY 734.2/bbl.
② Today, the domestic cyclohexanone capacity utilization rate is approximately 59.7%. The trend toward integrated cyclohexanone production is well-established, with most facilities co-producing caprolactam. Commodity-level supply remains stable, while downstream chemical fiber orders are being fulfilled on an as-needed basis.
③ Sinopec refineries in East, South, and Central China have increased pure benzene prices by CNY 400/ton to CNY 10,600/ton, effective October 9.
Table 1: Domestic Cyclohexanone Price Summary (Unit: CNY/ton)
| Market | Specification | Oct 12 | Oct 13 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 11,450 | 11,450 | 0 | 0% |
Based on the East China market, today’s cyclohexanone price reference range is CNY 11,400–11,500/ton, remaining stable compared to the previous trading day. Raw material cost pressures persist, spot supply of cyclohexanone is stable, but downstream buyers remain cautious about following higher prices, resulting in fluctuating market movements.
Today, the integration between cyclohexanone and caprolactam production has reduced the commodity supply of cyclohexanone, with limited new orders from the chemical fiber sector.
Raw material cost pressures persist, and the capacity utilization rate for commodity cyclohexanone remains low. Downstream buyers are purchasing only as needed. It is expected that short-term cyclohexanone prices will fluctuate in line with pure benzene trends.
Pure Benzene Market: On October 13, spot prices for pure benzene in East China rose, with transaction discussions ranging from CNY 10,640 to CNY 10,820/ton. Market sentiment in East China strengthened significantly today; alongside a sharp rise in the main futures contract, the cash-futures basis widened. Bullish sentiment is strong, with holders becoming more reluctant to sell at lower prices due to scarcity of cheap cargo, and some traders holding back stock in anticipation of further gains. Geopolitical tensions remain high, with no easing in US-Iran confrontations, sustaining concerns over supply risks and reinforcing expectations of tight future supply. Port inventories remain at low levels, maintaining a tight circulation pattern for spot goods, which further boosts bullish market sentiment.
Caprolactam: Today, the price for caprolactam in East China was quoted at CNY 14,200/ton (acceptance-based delivery), holding steady compared to the previous working day. With pure benzene prices rebounding upstream, cost support remains present. Some caprolactam producers have reduced operating rates. The market remains largely wait-and-see, with companies yet to issue firm quotations.
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