1、 Price trend
According to data monitored by Shengyi Society, as of October 30th, the average price of domestic industrial grade high-quality cyclohexane was 7000 yuan/ton, with a weak performance compared to the same period last month and a narrow decline of 2.78% compared to the same period last month.
2、 Market analysis
Market wise: In October, the focus of cyclohexane market negotiations was narrow and weak, resulting in a slight decline in prices. Some companies stopped production due to equipment reasons and temporarily did not provide quotes. The overall market lacks upward momentum, and downstream demand purchases according to demand. Export volume has decreased, mainly to South Korea, Vietnam, and other places. The market sentiment is generally cautious and wait-and-see.
Upstream pure benzene: In October, the market price of pure benzene showed a continuous downward trend, mainly affected by weak supply and demand, lower crude oil prices, and weak downstream demand. Sinopec’s listed price was lowered: the pure benzene price of Sinopec’s East and South China refineries was executed at 7150 yuan/ton on October 29th, a decrease of 900 yuan/ton compared to the previous month; The prices of refineries in northern regions such as Qilu and Qingdao have been simultaneously lowered to 7050 yuan/ton, resulting in a decrease in cost side prices and a lack of support for cyclohexane.
On the demand side, the demand for cyclohexane in traditional industries such as synthetic fibers, coatings, and resins continues to grow, while emerging fields are expanding. The rise of industries such as new energy vehicles, environmentally friendly coatings, and high-performance materials further drives the demand for high-performance chemical raw materials (including cyclohexane). The global economic recovery and accelerated industrialization process have driven a significant increase in the demand for industrial cyclohexane.
3、 Future forecast
The cyclohexane analyst from Shengyi Society believes that in the short term, the cyclohexane market will mainly experience narrow consolidation with stable prices. With the expansion of downstream application areas and the rapid development of emerging industries, the demand for cyclohexane is expected to maintain stable growth.