SunSirs: The Aniline Market Rose Widely in March

Price trend

According to the commodity market analysis system of SunSirs, the aniline market experienced a substantial surge in March. On March 1, the market price for aniline stood at 9,145 RMB/ton; by March 31, the price had risen to 11,362 RMB/ton—marking a 24.25% increase over the period and a 41.59% increase compared to the same period last year.

Analysis and Commentary

At the beginning of the month, persistent tensions in the Middle East kept international crude oil prices at elevated levels, driving up the costs of upstream raw materials such as benzene. As benzene serves as the primary feedstock for aniline, its recent sharp price surge caused aniline prices to rise in tandem. Compounded by scheduled maintenance plans at major production facilities—which resulted in low inventory levels for manufacturers—aniline prices breached the 10,000-RMB/ton mark. Subsequently, however, the situation in the Middle East became volatile; after briefly surpassing $100 per barrel, crude oil prices underwent a rapid correction, leading to a swift decline in the price of the raw material, benzene. Influenced by these shifting cost dynamics, aniline prices were subsequently adjusted downward. From mid-March onward, driven by a combination of cost factors and supply-demand dynamics, prices began a steady upward trend, eventually climbing back to high levels. Downstream buyers entered the market on an as-needed basis, gradually becoming more receptive to the elevated raw material prices, and overall market transaction activity remained reasonably active.

Benzene: In March, the benzene market experienced sharp fluctuations, characterized by rapid surges followed by steep declines. Influenced by geopolitical tensions, prices decoupled from fundamental market conditions, and overall market sentiment played a significant role. Looking ahead, refineries—concerned about the stability of raw material supplies—have adopted a defensive stance by implementing production cuts; they are also closely monitoring transit conditions through the Strait of Hormuz. Consequently, in the short term, benzene prices are expected to be more prone to rising than falling.

Market outlook

The aniline market continued to strengthen, bolstered by cost-side support. Furthermore, scheduled maintenance at major production facilities had tightened supply. Consequently, the market is expected to continue trending upward from its current high levels in the short term.

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