1、 Price trend

According to the data of the business club’s large scale list, the aniline Market is running smoothly this week. On Friday (March 27), the price in Shandong is 5900 yuan / ton, and that in Nanjing is 6150 yuan / ton. At the beginning of the month, the price of aniline was 6800 yuan / ton in Shandong and 7300 yuan / ton in Nanjing.

2、 Analysis and comment

Raw materials: this week’s listing price of pure benzene is 2850-3700 yuan / ton (average price is 2940 yuan / ton), 860 yuan / ton lower than last week, down 22.63%. Sinopec fell for the second time this week, with the listing price of pure benzene reduced by 800 yuan / ton to 2900 yuan / ton. The fundamental contradiction of pure benzene is gradually increasing. Raw materials: the crude oil price is low, the price of pure benzene in the external market continues to fall, the arbitrage window in the internal and external market opens, and the arrival volume of imported pure benzene increases. In terms of downstream demand: the overall downstream starting load this week shows a downward trend, with poor terminal demand. Port inventory: this week’s port inventory is significantly higher than last week’s, and refinery inventory is high. Multiple negative effects, this week pure benzene fell endlessly.

Nitric acid continued to rise this week. The production price in East China was 1600 yuan / ton, up 50 yuan / ton, or 3.23% from last Friday.

Product: the operating rate of aniline enterprises is lower than that of last week, and some enterprises stop for maintenance. Supply and demand of aniline are balanced, there is no delivery pressure, and the price remains stable within the week.

3、 Future expectation

Raw materials: the downstream operating rate decreased, and the demand for pure benzene was difficult to improve. The low price of hydrogenated benzene impacts the pure benzene market. In addition, the pure benzene plant is willing to increase the load, so the inventory pressure will increase. The contradiction between supply and demand has increased, the short-term market is difficult to get a substantial improvement, and the price of pure benzene is still possible to be lowered.

Pay attention to the restart and delivery of aniline plant. It is expected that the price of aniline will be stable in the short term, and the price trend in the later period will be affected by supply and demand.