① [Chempricehub] Oct 8: Instability in the Middle East, combined with hurricane-induced shutdowns of some offshore oil wells in the US, drove international crude oil prices higher. NYMEX WTI November futures closed at $91.49/bbl, up $3.21/bbl (+3.64%); ICE Brent December futures closed at $104.28/bbl, up $4.08/bbl (+4.07%). INE Shanghai Crude Oil November 2026 contract rose by CNY 41.3 to CNY 737.4/bbl, while night session trading fell by CNY 4.6 to CNY 732.8/bbl.
② Today’s domestic cyclohexanone capacity utilization rate stood at approximately 59.7%. The trend toward integrated cyclohexanone-caprolactam production has matured, with most facilities producing both commodities simultaneously. Supply of merchant-grade cyclohexanone remains stable, and downstream chemical fiber orders are being fulfilled on an as-needed basis.
③ Sinopec refineries in East China, South China, and Central China raised their pure benzene prices by CNY 400/ton to CNY 10,600/ton, effective October 9.
Table 1: Domestic Cyclohexanone Price Summary (Unit: CNY/ton)
| Market | Specification | Oct 8 | Oct 9 | Change | % Change |
|---|---|---|---|---|---|
| East China | Cyclohexanone | 11,250 | 11,350 | +100 | +0.89% |
| Data Source: Chempricehub |
Based on the East China market, today’s cyclohexanone price reference range is CNY 11,300–11,400/ton, representing an increase of CNY 100/ton from the previous trading day, or approximately +0.89%. Raw material pure benzene prices have remained firm, exerting significant cost pressure. Suppliers have reduced low-price offers, leading to a volatile upward trend in market prices.
Today, the integration of cyclohexanone and caprolactam production has further optimized operations, resulting in reduced supply of merchant-grade cyclohexanone. Downstream chemical fiber order follow-through has been limited.
The pure benzene market is trending stronger, increasing cost pressures. Capacity utilization for merchant-grade cyclohexanone remains relatively low, while downstream buyers continue purchasing on an as-needed basis. In the short term, cyclohexanone prices are expected to track pure benzene trends and remain firm.
Pure Benzene Market: On October 8, spot transaction prices in East China ranged between CNY 10,600–10,800/ton, largely consistent with morning forecasts. U.S. President statements indicating productive U.S.-Iran negotiations and no military action against Iran before mid-term elections caused international oil prices to retreat from highs, partially eroding geopolitical premiums. Tightness in port spot circulation has not fundamentally changed; some refineries implemented defensive load reductions due to raw material concerns and prioritizing fuel over chemicals, causing supply recovery to lag expectations. Downstream resistance to high-priced feedstocks has increased, with most downstream sectors except aniline operating at losses and showing insufficient willingness to chase rising prices. The reality of low inventories contrasts sharply with weak momentum in deferred-month contracts, creating a near-strong/far-weak market structure. Short-term prices are likely to maintain divergent high-level trends.
Caprolactam: Today, East China caprolactam prices were quoted at CNY 14,200/ton (accepted bill delivery), up CNY 250/ton from the previous business day, representing a 1.79% increase. Caprolactam market prices followed cost increases driven by pure benzene strength. However, downstream demand remains cautious, with purchases primarily meeting immediate needs.
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