Aniline Market Decline Accelerated Last Week (May 25–29)

Market Analysis and Commentary

Last week, the aniline market experienced a significant decline, with prices being lowered twice—each time by 400 RMB/ton. On one hand, the market was impacted by a pullback in raw material prices, which weakened cost-side support; on the other, internal supply-demand dynamics played a role, as sluggish demand led to falling prices. Downstream buyers subsequently entered the market to purchase on the dips, though the prevailing sentiment regarding future market prospects remains predominantly bearish.

Cost Perspective: Recently, the benzene market has been weighed down by declining crude oil prices, resulting in a bearish market sentiment. Furthermore, with downstream sectors continuing to operate at a loss, enthusiasm to raw material procurement remains low. On might 29, Sinopec Chemical Sales lowered its listed price to benzene by 300 RMB/ton; consequently, all "along-the-river" resources—covering the East China, North China, South China, and Central China branches—are now priced at 7,700 RMB/ton. This downward adjustment by major refineries has triggered a renewed decline in benzene prices.

Market outlook

Currently, demand in the aniline market remains lackluster. With raw material prices undergoing another downward adjustment—compounded by weak overall demand—aniline prices are expected to continue their downward direction.

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