1. Price Trends
In May, the Shandong cyclohexanone market experienced a slight decline in the first ten days, followed by a rapid drop in the middle and latter parts of the month, with the decline widening further towards the end of the month, resulting in a unilateral downward trend throughout the month.
In the first week of May, market prices remained stable with no significant fluctuations. Starting on the 7th, Shandong cyclohexanone prices entered a downward trend, falling until mid-month when the price stabilized and saw a slight rebound. However, the upward momentum was insufficient, and towards the end of the month, the cyclohexanone market resumed its downward trend, reaching its lowest point of the month.
2. Analysis of core influencing factors
Supply and Demand:
Supply is ample: Domestic cyclohexanone plants are operating at high capacity, leading to accumulated spot inventories at major factories. Sufficient spot supply has prompted manufacturers to continuously lower ex-factory prices to reduce inventory, driving overall market prices downward.
Demand is weak: Key downstream applications of cyclohexanone include plant maintenance shutdowns and lower operating rates. Purchases are limited to immediate needs, and downstream end-users are cautious, resisting high prices and placing small orders only as needed. Market transactions are sluggish, and overall demand is weak.
Cost Side: Weakening Cost Support
Upstream raw material benzene prices fluctuated and declined, with benzene market prices continuously decreasing. Cyclohexanone production costs followed suit, losing their cost floor and opening up room for price adjustments for producers, further contributing to the decline in spot prices.
3. Market Outlook
Currently, the cyclohexanone market remains relatively quiet, with weak support levels. It is expected that the current supply-demand imbalance will be difficult to reverse quickly in the short term, and spot prices may continue to fluctuate weakly, consolidating at low levels. If benzene prices stop falling and rebound, coupled with concentrated restocking by downstream users, the decline may narrow. In the future, close attention should be paid to changes in demand support, the restart progress of downstream plants, and cost trends. Only a substantial recovery in demand will provide a foundation for price stabilization and a rebound.
At the end of May, the 10-day moving average of cyclohexanone crossed below the 20-day moving average again, and the downward difference continued to widen, predicting a further decline in the market. Supporting indicators show that cyclohexanone prices are at the high end of the 5-level range (one-year level). Combining these two indicators, the market price of cyclohexanone is predicted to continue its downward trend. Close attention should also be paid to fluctuations in crude oil prices, plant operation, and changes in downstream orders.
Post time: Jun-08-2026