SunSirs: Aniline Prices Remained Stable This Week (August 14-18)
August 21 2023 10:29:52 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of aniline had remained stable this week. On August 14th, the market price of aniline was 11,142 RMB/ton, and on August 18th, it was 11,142 RMB/ton, an increase of 0.07% compared to last week.
Analysis review
Pure benzene: Affected by the weakening of crude oil and styrene market on the 17th, the atmosphere in the East China market was poor, and buying and wait-and-see were obvious. In the end of the day, prices rebounded due to the cessation of crude oil decline. The trading mentality in the Shandong market was weak, and the intention of refineries of reducing prices to promote sales was obvious, driving the focus of transactions to continue to shift downwards. The rebound of crude oil had driven the overnight market up to 7,830-7,880 RMB/ton, and it is expected to open higher and consolidate in the morning. On Friday (August 18th), the price of pure benzene was 7,769 RMB/ton, a decrease of 0.39% compared to last week and an increase of 2.33% compared to the same period last year.
Nitric acid: The domestic price of nitric acid remained stable this week. On August 14th, the price was 1,946 RMB/ton, and on August 18th, it was 1,946 RMB/ton. The price increased by 0.15% compared to last week and decreased by 18.91% compared to the same period last year.
Market outlook
As of August 18th, the fundamental support for aniline was still there, and Yantai Wanhua's maintenance had boosted the market. However, some downstream deliveries had weakened, and the momentum for aniline to rise or fall was insufficient. On August 18th, the price of aniline remains stable.
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