SunSirs: Aniline Continued to Fluctuate in July

Price trend

According to data from SunSirs’ bulk list, aniline remained in a range of fluctuations. On July 1, the price of aniline in Shandong was 4,300-4,390 RMB/ton, and the price of aniline in Nanjing was 4,500 RMB/ton; On July 31, the price of aniline in Shandong was 4,200-4,330 RMB/ton, and the price of aniline in Nanjing was 4,200 RMB/ton, a decrease of 1.53% this month.

Analysis review

In terms of raw materials, pure benzene fluctuated between the first ten days and the middle ten days of July, and the price rose sharply in the last ten days. Sinopec lowered the listing price of pure benzene at the beginning of the month and raised the listing price three times in the second half of this month, raising a total of 50 RMB/ton to 3,350 RMB/ton this month. At the beginning of the month, the weak market in June continued, downstream demand was insufficient to follow up, and port inventories remained high; coupled with the unknown public health incident, the market spot transactions were light and the wait-and-see atmosphere was strong. In late July, the prices of external disks rebounded significantly, and companies filled the gaps at the end of the month, and the pressure of delivery was quickly released, and prices rose sharply. On July 1, the listing price of pure benzene was 2,950-3,400 RMB/ton (average price 3,160 RMB/ton), and the listing price on July 31 was 3,230-3,400 RMB/ton (average price 3,370 RMB/ton), an increase of 210 RMB/ton, a monthly increase of 6.65%.

Starting from reaching 1,450 RMB/ton on June 10, the price of nitric acid continued to stabilize until it rose to 1,533.33 RMB/ton on July 22. In July, the price of nitric acid increased by 5.75%.

In the early stage of this month, aniline was under pressure from inventory, and the price was lowered to promote shipments; at the end of the month, Dongying Huatai stopped for maintenance and the market supply was reduced, which brought benefits and prices increased.

Market outlook

In terms of raw materials, port inventory continues to be high, but the current external disk is high, and subsequent arrivals are expected to decrease, and inventory pressure is reduced, supporting the market mentality. Coupled with the subsequent increase in the operating rate of downstream devices and the storage and commissioning of some new capacity, it is expected that the price of pure benzene is expected to continue to rise in August.

The cost side is expected to continue to rise, which will support the price of aniline in the later stage. Pay attention to foreign public health incidents and downstream construction load. The price of aniline is expected to increase in August, but not much.

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