Cyclohexanone Price per Ton 2026: FOB China Guide

Cyclohexanone (CAS 108-94-1), empirical formula C₆H₁₀O, molecular weight 98.15 g/mol, is a water-white to pale-yellow cyclic ketone with a closed-cup flash point of 44°C, density 0.945–0.949 g/cm³ at 20°C, viscosity approximately 2.2 mPa·s at 20°C, and atmospheric boiling range 153.0–157.0°C. The compound is produced in China mainly by cyclohexane oxidation to KA oil followed by rectification, or by phenol hydrogenation to cyclohexanol followed by catalytic dehydrogenation. Export cargoes are consumed in caprolactam monomer synthesis, adipic acid oxidation, and as a solvent in vinyl, acrylic, and polyurethane systems. The 2026 FOB China price-per-ton guide is a contract construction benchmark, not an exchange settlement price. There is no active China commodity futures contract for cyclohexanone; price discovery is negotiated through fixed-price or formula-linked cargo transactions.

FOB China quotes must specify the named port, terminal, packaging, purity, water content, and loading window. Without these variables, a price per tonne is not comparable across suppliers. Buyers generally receive benzene-linked formulas rather than a single published spot number. The term FOB under Incoterms 2020 has a precise delivery and risk-transfer definition, and a cargo priced on an FOB Ningbo basis cannot be directly compared with an FOB Shanghai or FOB Zhangjiagang basis without normalizing port and drayage costs.

What Constrains FOB China Cyclohexanone Price Discovery in 2026?

Price formation is dominated by benzene cost, energy, hydrogen, and downstream caprolactam operating rates. Stoichiometric benzene consumption through benzene-to-cyclohexane-to-cyclohexanone is 0.796 tonnes per tonne of cyclohexanone based on molecular weights; actual producer consumption is higher because of yield loss, steam stripping, and duct losses. A Sinopec East China benzene ex-works monthly average is the most common reference for Chinese supply contracts, but buyers should define the exact weekly or daily averaging period, the benzene factor, and the CNY/USD settlement rate. Cyclohexanone price per tonne FOB China is therefore a derived benzene price adjusted by a negotiated conversion margin and port costs.

Capacity data alone does not describe available export supply. Integrated caprolactam producers in Shandong, Jiangsu, and Zhejiang routinely divert cyclohexanone to in-house oxime production. Merchant FOB availability can tighten when downstream caprolactam loadings are high or when a large merchant unit enters turnaround. Buyers should request the specific loading terminal and producer allocation basis, not only nameplate capacity. A quoted FOB China level for 2026 should be reviewed against the producer’s declared maintenance schedule and feedstock position.

Phenol Hydrogenation Route: Purity Benefits, Hydrogen Supply, and Refinery Integration

The phenol route begins with saturation of phenol to cyclohexanol over a nickel-based catalyst, typically at 120–160°C and low-to-moderate hydrogen partial pressure, followed by dehydrogenation over a copper-based catalyst in a fixed-bed or shell-and-tube reactor. Dehydrogenation is endothermic and equilibrium-limited; unreacted cyclohexanol is reduced in a vacuum rectification section. The phenol route yields a cleaner impurity profile with lower residual cyclohexanol and fewer C6 aldehyde/ester byproducts than cyclohexane oxidation KA oil distillation. In the cyclohexane oxidation route, per-pass cyclohexane conversion is kept low, commonly 4–6%, to increase KA oil selectivity; the subsequent KA oil distillation and dehydrogenation-rectification sequence is energy intensive and requires strict reflux control to hold cyclohexanol carryover below 0.10 wt%.

Hydrogen supply is a second variable. Fully integrated phenol producers with refinery para-hydrogen or coal-gas hydrogen have a different cost floor than isolated merchant plants buying compressed hydrogen or natural gas. A buyer should treat a quoted FOB China cyclohexanone price as partly determined by the seller’s hydrogen position; differences of several tens of USD per tonne between suppliers with otherwise identical certificates of analysis are commonly observed because of this structural cost difference. Feedstock benzene and hydrogen are pass-through or index-linked in most long-term Chinese supply contracts.

A standard FOB China formula can be expressed as: FOB China USD per tonne = [(benzene CNY per tonne × benzene factor) + conversion margin CNY per tonne + packaging, port and documentation costs CNY per tonne] ÷ USD/CNY settlement rate. The conversion margin should be itemized to reveal feedstock pass-through, energy, and producer margin. For 2026, fixed-price quotations are less common where benzene volatility is elevated, and published data for fixed-price cyclohexanone cargoes loaded in 2026 is limited; most sellers prefer a monthly benzene-linked formula. When comparing quoted FOB China levels, a buyer should normalize the benzene reference date, the vessel nomination deadline, the demurrage free time, and the packaging basis. A quotation on an ex-terminal Nanjing basis is not equivalent to FOB Ningbo. The Chinese export commodity code for cyclohexanone is 2914 22; buyers should verify the full 10-digit code and export VAT treatment with a customs broker.

When a Buyer Requests an FOB Ningbo Cargo Under Incoterms 2020

Under Incoterms 2020 FOB, the seller delivers by placing the goods on board the vessel nominated by the buyer at the named port and bears the cost of delivery and port handling up to that point; the buyer bears ocean freight, insurance, destination charges, and import formalities. Risk transfers when the cargo is on board the vessel, not when the ship departs. For cyclohexanone classified as UN 1915, Class 3, Packing Group III, the nominated vessel must accept dangerous goods stowage. Buyers should resolve terminal THC, lashing, and pre-shipment inspection charges before fixture because these port tariffs differ across Ningbo, Shanghai, and Zhangjiagang.

Export documentation usually comprises the commercial invoice, packing list, export declaration form, dangerous goods certificate, IMDG/ADR transport document, safety data sheet, and a certificate of analysis. The certificate of analysis should state lot number, production date, expiration or retest date, and test methods used. Without a specified retest date, a buyer may receive material that has aged in transit and exhibits higher water or peroxide concentration at discharge. The shipping name Cyclohexanone should appear exactly on the dangerous goods declaration, and the SDS should reference the UN GHS revision applicable to the destination regulatory regime.

Standard export packaging for cyclohexanone is 200 L epoxy-lined steel drums, 1,000 L composite IBCs for intra-Asia cargoes, or 24,000 L ISO tank containers. ISO tank containers should be 316/316L stainless steel with nitrogen blanketing if the storage interval exceeds 30 days. Prolonged contact with air can raise color and peroxide concentration; a closed-loop sampling system under 0.2–0.5 bar nitrogen pressure is preferred for tank sampling to avoid moisture ingress. For drum filling, a dedicated odor-control line and secondary containment are required because cyclohexanone has a low odor threshold and can saturate carbon filters quickly.

Port Charge Differentials: Ningbo, Shanghai, and Zhangjiagang

Ningbo has a high container call frequency and lower truck drayage for producers in Zhejiang, but ISO tank availability and terminal berth allocation can widen the lead time. Shanghai is attractive for mixed cargo consolidation but terminal handling charges are often higher and dangerous goods acceptance may require additional declaration time. Zhangjiagang is linked to Yangtze River tank transport and bulk liquid storage; it is frequently used for domestic barge transfer before export, but water level restrictions and seasonal fog can affect loading windows. In winter, Zhangjiagang berth availability may be reduced by fog and low water levels on the Yangtze. Buyers planning November-to-January liftings should confirm terminal closure windows.

Quotes should therefore name the terminal and the operational status of the loading berth. A quote that does not specify terminal origin carries a logistics contingency. Buyers should ask for the vessel nomination deadline and the free time for ISO tanks, commonly 7–10 days after container pickup, but this is negotiable and varies by carrier and port congestion. Dangerous goods stowage may require a separate port dangerous goods handling fee, and the seller’s FOB price should state whether this fee is included. Inconsistent inclusion of port charges is a common source of apparent price variance between FOB China offers.

Quality adjustment clauses for cyclohexanone should bind water above 0.05 wt%, color above 10 Pt-Co, acidity as acetic acid above 0.01 wt%, and cyclohexanol above 0.10 wt%. A buyer should avoid accepting non-conforming material as a full-value cargo; instead, the contract should specify either rejection/return rights, replacement, or a defined re-processing credit. Distillation of an off-spec parcel is energy-intensive, and a supplier’s re-work capacity may be limited during high operating rates in caprolactam season. Third-party inspection at the loading port is standard when payment is by letter of credit; the inspector should sample from the top, middle, and bottom of the tank or from multiple drums according to a documented sampling plan. Color by Pt-Co should be read against a fresh standard; aged Pt-Co standards can under-report color. The buyer should ask for lot retention samples held for 6 months after loading.

Why Downstream Caprolactam Grade Specifications Should Override Solvent Grade Defaults

Cyclohexanone for caprolactam production is not interchangeable with solvent-grade material. In caprolactam synthesis, cyclohexanone is converted to cyclohexanone oxime with hydroxylamine sulfate or its equivalent, then subjected to acid-catalyzed Beckmann rearrangement. Acidity and water are not simply quality indicators; they affect the salt balance and the subsequent purification train. A producer of cyclohexanone may offer solvent-grade product with ≥99.5% GC area purity, but caprolactam licensors often require ≥99.8% with tighter water and acidity control. The 2026 FOB China guide should therefore distinguish between solvent-grade and caprolactam-grade pricing; the latter may carry a premium because of added distillation and drying.

For solvent applications, cyclohexanone is used in vinyl resin, acrylic, and polyurethane formulations. In a polyurethane topcoat, it functions as a leveling and flow solvent at addition levels of 2–5 wt% of the total formulation. Because isocyanate crosslinkers react with water to form amine and carbon dioxide, moisture content above 0.05 wt% can produce micro-bubbles during force drying below 80°C. At line speeds above 3 m/min, trapped carbon dioxide from water-isocyanate reaction can appear as cratering or pinholes in polyurethane topcoats. Paint shops using cyclohexanone as a tail solvent therefore condition the solvent to ≤0.03 wt% water and hold spray booth humidity below 65% RH. Bulk storage tanks should be fitted with desiccant breathers or nitrogen blanketing. Production-scale agitator systems for high-viscosity vinyl resins use cyclohexanone as viscosity reduction solvent, but the addition level is limited by film drying and flash point.

For adipic acid, cyclohexanone is oxidized with nitric acid in the presence of vanadium or copper catalysts; residual organics can alter the oxidation exotherm and off-gas profile. Buyers should request reactor-specific oxidation data when the product is destined for an adipic acid unit. Published data for specific adipic acid reactors is limited because these systems are licensor-controlled.

In PVC adhesive compounding, cyclohexanone is used as a high-viscosity reduction solvent at 5–15 wt% of the resin dispersion. Mixing is performed in high-shear dispersers with explosion-proof motors; because the flash point is 44°C, heating and shearing equipment must be bonded, grounded, and operated under local exhaust ventilation. High-viscosity formulations can experience batch-to-batch variation when cyclohexanone water content changes because water reduces the solvent power for PVC resin; a moisture specification of ≤0.05 wt% is therefore maintained in these operations.

For caprolactam producers in China, in-house cyclohexanone quality is often monitored by on-line gas chromatography with data trending under ISO 9001:2015 quality management systems. Off-line confirmation should include water and acidity because GC area percent alone does not quantify trace water. When a merchant cargo is purchased instead of in-house material, the buyer should require that the COA be issued by the producing site, not by a trading office, and that the product is traceable to a single reactor/distillation campaign.