SunSirs: Poor Fundamentals, Cyclohexanone Had Fallen Nearly 5% Since the Beginning of the Month
November 19 2024 14:18:09 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, on November 18th, the domestic cyclohexanone market price reference was 8,400 RMB/ton. On November 1st, the domestic cyclohexanone market price reference was 8,837 RMB/ton, with a price reduction of 437 RMB/ton, a decrease of 4.95%.
Analysis review
From the Commodity Market Analysis System of SunSirs, it can be seen that since November, the overall domestic cyclohexanone market had shown a weak and declining trend. At the beginning of the month, the domestic cyclohexanone market performed poorly, and the focus of the cyclohexanone market shifted towards a lower level. The price of cyclohexanone decreased by about 300-500 RMB/ton. Subsequently, under the influence of rising costs, the downward trend of the cyclohexanone market gradually came to an end, but the overall positive support within the market was still insufficient, and the cyclohexanone market was weakly consolidating and operating. As of November 18th, the reference market price for cyclohexanone in Shandong Province was around 8,350-8,400 RMB/ton, and the reference market price for cyclohexanone in South China was around 8,600-8,700 RMB/ton, with a decrease of nearly 5% during the month.
On the supply side: As of November 18th, the overall supply performance of the domestic cyclohexanone market was relatively stable, with little adjustment in the production of cyclohexanone. The overall market supply was relatively sufficient, and the market support provided by the supply side for cyclohexanone was loose.
In terms of demand: As of November 18th, downstream demand in the cyclohexanone market was mainly for essential needs, and the market's purchasing enthusiasm was generally average. The demand side provided weak support for the cyclohexanone market.
Upstream: Recently, there had been a slight upward trend in the benzene market for cyclohexanone. The rise in raw materials provided some cost support for cyclohexanone. As of November 15th, the reference price for benzene was 7,153 RMB/ton, an increase of 0.61% compared to November 1st (7,109.67 RMB/ton).
Market outlook
As of November 18th, the trading atmosphere in the cyclohexanone market was mild and relatively quiet, and the mentality of on-site operators was average. Downstream purchases were mainly based on volume transactions. The cyclohexanone data analyst from SunSirs believes that in the short term, the domestic cyclohexanone market will mainly adjust and operate within a narrow range, and specific changes in supply and demand information need to be closely monitored.
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