SunSirs: Weak Cost Support, Cyclohexane Operated Weakly in November
December 02 2024 11:21:08 SunSirs (John)
Price trend
According to data monitored by SunSirs as of November 29th, the average price of industrial grade high-quality cyclohexane in China was 7,641.67 RMB/ton. The cyclohexane market was weak in November, with prices showing a downward trend. As of November 29th, the market transaction price remained at around 7,500 RMB/ton. The cyclohexane supply in the market was sufficient, but downstream consumption was slow, and the overall market had a strong wait-and-see atmosphere.
Analysis review
Market side: At the end of November, the cyclohexane market showed a slight rebound with a narrow upward trend in prices. The auction price of cyclohexane in Shandong region increased, and downstream factories purchased according to demand. As of November 29th, the cost support for cyclohexane was average. In November, the benzene market first fell and then rose, with negotiated prices around 7,400 RMB/ton. Port shipments were active, but inventory accumulation did not meet expectations. As of November 29th, the supply of benzene in the market continued to increase, and there was a possibility of a decline in benzene prices.
Downstream: The shipment volume of CPL in the downstream was good, and the price was running strong. There was a slight shortage in the supply side. The overall operating rate was relatively stable, and inventory consumption was normal without pressure. Cost support still existed. Overall, the supply side of the CPL market remained tight, and it is expected to maintain the trend in the short term.
Market outlook
The cyclohexane analyst from SunSirs believes that the upstream price of cyclohexane generally supported, and downstream shipments were good. However, the supply of cyclohexane was relatively loose, and the overall market was in a supply-demand balance. In the short term, cyclohexane will maintain its current trend.
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