According to market analysis, on January 31, 2025, the ex-factory price of cyclohexanone in Shandong, China, increased by 8.66% compared to the reference price on January 1.
Price Trend Review
In January 2026, the Shandong market for premium-grade cyclohexanone showed a trend of initial stability followed by a rapid upward trend. Throughout January, the Shandong cyclohexanone market saw prices steadily rise, with a cumulative increase of 500-600 yuan/ton within the month.
Early January (January 1-13): Prices fluctuated narrowly around 6300 yuan/ton, with a slight dip to a low of 6240 yuan/ton due to temporary reductions in operating rates at some plants. Mid-January (January 14-20): Supply and demand began to tighten, and prices rose rapidly from 6300 yuan/ton to 6550 yuan/ton, a weekly increase of 3.97%. Late January (January 21-31): Downstream pre-holiday stockpiling coupled with stronger raw material support led to an accelerated price increase, reaching 6900 yuan/ton by the end of the month (January 31), a cumulative monthly increase of 600 yuan/ton, or 9.61%.
Analysis of core influencing factors
Raw material side: Benzene prices strengthened, highlighting cost support.
The price of benzene, the core raw material for cyclohexanone, continued to rise in January, providing increasing support for cyclohexanone from the cost side, and the price of cyclohexanone followed suit.
Supply side: Plant maintenance combined with reduced operating rates effectively shrinks supply.
In January 2026, the overall operating rate of the domestic cyclohexanone industry declined, with many major plants in Shandong and East China entering their annual maintenance period, resulting in a significant reduction in the overall supply of cyclohexanone in the market.
Demand side: Downstream buyers stock up before the holiday, resulting in a concentrated release of procurement demand.
Downstream industries such as caprolactam, coatings, and adhesives entered their stockpiling cycle before the Spring Festival. Caprolactam manufacturers, to ensure production in the first quarter, concentrated their purchases of cyclohexanone, resulting in a significant increase in procurement volume. The coatings and adhesives industries, driven by pre-holiday order fulfillment demand, increased their stockpiling efforts, further amplifying market demand. Some traders, anticipating price increases, actively stockpiled, exacerbating the tight supply-demand situation in the market.
Market Outlook
Currently, the cyclohexanone market is experiencing good trading activity, but with logistics disruptions and the impact of the Spring Festival holiday, overall market activity is expected to gradually quiet down, and cyclohexanone prices are likely to fluctuate at high levels. After the market recovers, if downstream restocking demand has been pre-emptively met, the cyclohexanone market may face downward pressure after the holiday. Close attention needs to be paid to changes in supply and demand.
Post time: Feb-05-2026