This Week's Aniline Market Accelerates Decline (5.25-5.29) in China

May 29th, news:

I. Price Trends

According to the commodity market analysis system, the Aniline market in China accelerated its decline this week. The price of Aniline was 11,062 CNY/ton on May 25th and dropped to 10,262 CNY/ton by May 29th, a weekly decrease of 7.23%, but still up 42.04% compared to the same period last year.

II. Analysis and Commentary

This week, the aniline market in China saw a significant decline, with two separate reductions of 400 CNY/ton. On one hand, this was influenced by the drop in raw material prices, leading to weaker cost support; on the other hand, it was affected by its own supply and demand dynamics, with weak demand leading to price drops. Downstream buyers are entering the market at lower prices, and there is a general bearish sentiment for the future.

On the cost side: Recently, the benzene market has been affected by lower crude oil prices, leading to a weaker market sentiment. Moreover, downstream industries remain in loss, resulting in reduced purchasing enthusiasm for raw materials. On May 29, Sinopec’s chemical sales division lowered its listed price for pure benzene by 300 CNY/ton today. The Jiangsu-based resources of its East China, North China, South China, and Central China branches are all being sold at 7,700 CNY/ton. The price reductions from mainstream refineries have once again driven down benzene prices.

3. Future Market Expectations

The current demand for Aniline in China is mediocre, and with the price of raw materials being reduced again, coupled with weak demand, it is expected that the price of Aniline may continue to decline.