SunSirs: Aniline Continued to Rise in September and the Market Improved

Price trend

According to data from SunSirs’ bulk list, the aniline market improved in September, and the price continued to rise. On September 1, the price of aniline in Shandong was 4,250-4,430 RMB/ton, and the price of aniline in Nanjing was 4,400-4,600 RMB/ton; On September 30, the price of aniline in Shandong was 5,100-5,300 RMB/ton, and the price of aniline in Nanjing was 5,500-5,600 RMB/ton, an increase of 22.31%.

Analysis review   

In terms of raw materials, the listing price of pure benzene on September 1 was 3,070-3,450 RMB/ton (average price of 3,390 RMB/ton), and the listing price on September 30 was 3,000-3,450 RMB/ton (average price of 3,380 RMB/ton). The month fell slightly by 0.29%. In September, the listing price of pure benzene of Sinopec's companies was not adjusted, supporting the price of pure benzene. The price of local refinery in Shandong fluctuated significantly. Early September: Some pure benzene was exported, the market supply increased, and the demand did not improve, leading to the continuous weakening of prices. In mid-September, pure benzene was dominated by stable price consolidation. Late September: The willingness of downstream repurchase before the holiday is not strong, and the price of pure benzene generally weakened due to the pressure of shipments.

Nitric acid: On September 1, the price of nitric acid in East China was 1,500 RMB/ton, and on the 30th, the price was 1,516.67 RMB/ton, an increase of 16.67 RMB/ton or 1.11% from the beginning of the month.

Entering September, the export of aniline increased, companies executed more contracts, the spot supply was less, and prices continued to rise. Huatai restarted in early September, and the market supply has increased. However, the downstream operating rate increased slightly, and demand improved, which also supported the rise in aniline prices.

Market outlook

In terms of raw materials, Sinopec lowered its listing price to 3,300 RMB/ton after the holiday, driving market negotiations to weaken. Entering October, the pure benzene market will still be constrained by high inventories, coupled with bearish crude oil news, the trend is expected to be weak.

After the National Day, some aniline installations were shut down for maintenance, and the market supply may decrease. There is still room for aniline prices to rise. However, the downstream profit margin has narrowed, and the room for upward adjustment of aniline is limited. In October, pay attention to the impact of Shanghai Lianheng's MDI plant's short-term shutdown for maintenance on the aniline market.

If you have any questions, please feel free to contact SunSirs with suooort@sunsirs.com.