1、 Price trend
According to data monitored by Business Society, as of November 23, the average price of domestic industrial grade premium cyclohexane was 7433.33 yuan/ton. Recently, the price of cyclohexane has been operating in a narrow and weak range, with a slight decrease in price. Compared to the beginning of this week, the price has decreased by 0.45%, with a decrease of about 50 yuan/ton. Compared to the same period last month, the price has decreased by 1.76%, with a decrease of about 100 yuan/ton. Currently, the mainstream price of cyclohexane is maintained at around 7500 yuan/ton.
2、 Market analysis
The focus of negotiations in the domestic cyclohexane market has shifted downwards. Currently, the inventory of cyclohexane is high, and the situation of oversupply is evident. Downstream follow-up is slow, and procurement lacks enthusiasm. It is mainly based on purchasing and using, and the willingness to hoard goods is not strong. The overall market transaction atmosphere is cold, and the overall cyclohexane market is operating under pressure. Currently, the mainstream transaction price is concentrated at around 7500 yuan/ton. This week, cyclohexane is in weak consolidation and operation, with weak cost support, The listing price of upstream pure benzene has been lowered by Sinopec. Currently, the manufacturer’s quotation range is around 7493-7750 yuan/ton. The overall trend of pure benzene is stable, medium to weak, and the overall market trading is light. Downstream solvent customers have a cautious wait-and-see attitude, mainly focusing on small orders.
In terms of supply: The operating rate of cyclohexane has been stable this week, and the company’s maintenance plan has not been announced. The supply of goods is sufficient, and downstream demand is weak. Currently, inventory is high and there is some pressure on inventory. Downstream procurement is mainly focused on small order contract customers. Overall, the cyclohexane market has sufficient production this week, but downstream demand is weak, and shipments are slow. The overall device is operating steadily, and inventory consumption is slow.
In terms of cost: Currently, the international crude oil futures prices are declining. As of November 22, the settlement price of the main WTI crude oil futures contract in the United States was at 77.10 US dollars/barrel, a decrease of 0.67 US dollars or 0.9%, while the settlement price of the main Brent crude oil futures contract was at 81.96 US dollars/barrel, a decrease of 0.49 US dollars or 0.6%. The overall market is showing a downward trend, and the domestic pure benzene market prices are mainly subject to narrow and weak fluctuations as of November 23, The domestic price of pure benzene ranges from 7493 to 7750 yuan/ton, and some companies have lowered their prices. Currently, the cost support for raw materials in the cyclohexane market is limited, and factory prices have declined narrowly.
3、 Future Market Forecast
Cyclohexane analysts from Business Society believe that there is limited support for cyclohexane raw materials, weak downward trend in crude oil futures prices, and limited room for price increase in pure benzene. Currently, downstream demand for cyclohexane is insufficient, mainly with a small number of orders. The overall market shipments are slow, coupled with high inventory levels, high unit operating rates, and a clear oversupply situation. It is expected that in the short term, the market price of cyclohexane will be narrow and weak, and it will be sorted and operated, The fluctuation range is around 50-100 yuan/ton.
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