Global Cyclohexanone Prices Remain Steady Amid Ample Supplies and Higher Upstream Costs
- 01-Sep-2023 5:15 PM
- Journalist: Nicholas Seifield
The cyclohexanone prices have shown rigid behavior globally in the week ending August 25. India has been the exception where the prices of Cyclohexanone have slightly changed in an upward direction. In the previous week, we have seen a little downward trend in the prices of Cyclohexanone due to lesser upstream Benzene prices and ample storage levels in the regional markets. The removal of demolishing factors and increased Benzene cost have resulted in a wait-and-see attitude among the traders.
Prices of this well-known intermediate chemical Cyclohexanone in the USA have been stuck to USD 1580 per metric tonne (FOB Texas prices) as of August 25. At the same time, the Cyclohexanone prices in the European market have been hovering around USD 1790 per metric tonne (FD prices) on the week ending Friday. However, prices of Cyclohexanone have fluctuated somewhat in the markets of Southeast Asia. In Gujarat, Cyclohexanone has been trading at a value of USD 36.27, above USD 1378.15, the trading price last week Friday. In China, the Cyclohexanone prices of synthetic organic chemicals have remained constant at the previous week's prices of USD 1160 per metric tonne.
European trade with Italy has increased in terms of imports and exports, per market sources. Italian imports have increased by 0.5 percent, while exports have risen by 0.49 percent. On the other hand, non-EU product exports have seen a hike of 0.3%. However, imports have declined by 14.5 percent in Italian territories.
Demand from the downstream textile industry has been steady. Meanwhile, poor demand for Caprolactum has been reported due to the weaker Nylon-6 automotive chip-making industry.
The prices of Benzene in the market of the World's most populous country, China, have reported a jump of USD 26.34 per metric tonne from last week's trading value, as per the CCFEI price index.
The Cyclohexanone market in India has seen a boom in the week ended August 25 due to ample domestic inventory and a revival of overseas purchases. Despite the consumer inflation and sluggish demand in the second quarter amid unseasonal rain, upcoming festive sales have helped to improve consumer sentiments in the domestic market. The textile industry has been geared up to serve the local demand and international retail markets in August 2023.
In the first half of 2023, Mexico became the US's top trade partner, while China remained the leading supplier in the textile market. As per data, China's U.S. apparel exports have been USD 22.652 and USD 24.866 in 2021 and 2022, respectively, while imports of textiles have dropped by 22.69 percent in H1 2023.
