SunSirs: Aniline Prices Decreased Significantly This Week (April 3- 7)
April 10 2023 09:43:19 SunSirs (John)
Price trend
According to the Commodity Market Analysis System of SunSirs, the price of aniline dropped significantly this week. The aniline market price was 12,300 RMB/ton on April 3 and 10,700 RMB/ton on April 7, down 17.69% from last week.
Analysis review
Pure benzene: Driven by the strength of crude oil before the holiday, the market's bullish sentiment towards the future increased, and downstream and traders were actively buying, and transactions were good. The spot transaction of pure benzene in East China was between 7,470 and 7,500 RMB/ton, with an average price of 7,485 RMB/ton, an increase of 50 RMB/ton. Shandong pure benzene spot transaction was 7,300-7,350 RMB/ton, with an average price of 7,325 RMB/ton, an increase of 90 RMB/ton. During the holiday period, crude oil prices stopped rising and the external market fell. It is expected that the majority of pure benzene in East China will fluctuate and consolidate in the morning. On Thursday (April 6th), the price of pure benzene was at 7,451 RMB/ton, an increase of 4.36% compared to last week and a decrease of 12.64% compared to the same period last year.
Nitric acid: Domestic nitric acid prices decreased slightly this week. On April 3rd, the price was 2,570 RMB/ton, and on April 7th, it was 2,600 RMB/ton. The price increased by 5.39% compared to last week and up 7.61% compared to the same period last year.
As of the 7th, the operating rates in the midstream and downstream were high, but there was resistance towards high priced raw materials, and the aniline market lacked upward momentum, maintaining a horizontal pattern.
Market outlook
The current factor affecting the price of aniline is demand performance. After a significant decline in the price of aniline, the price has already approached the cost line, and downstream profits have significantly warmed. It is expected that aniline will be mainly on the sidelines next week, and it is not ruled out that there will be further downward expectations in the context of poor shipments.
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