Aniline Prices: During the second quarter of 2023 | ChemAnalyst

For the Quarter Ending June 2023

North America:

In the North American region, Aniline prices underwent shifts during Quarter 2 of 2023. Initially, the price trend exhibited resilience, leading to marginal price increments driven by elevated cost support from feedstock Benzene and the volatile movements of upstream Crude Oil prices. However, as mid-Q2 approached, cost pressures eased due to the downward trend in upstream prices, coupled with reduced consumption rates brought about by a decline in fuel demand due to rising temperatures. This period also witnessed consistent declines in feedstock Nitric Acid prices, influenced by contracting upstream Ammonia prices and diminished demand from the fertilizer sector. These factors collectively contributed to a decrease in Aniline's production costs. Throughout the mid-quarter phase, the price trend stabilized, supported by moderate supplies from exporters and a rise in container freight expenses. Sluggish demand persisted from downstream MDI producers due to weakened inquiries for Polyurethane coatings from the construction sector throughout Q2 2023. As the quarter concluded, inventory levels climbed due to sluggish consumption, prompting exporters to adjust their quotations amid destocking practices. Ultimately, by the end of the quarter, Aniline prices in the USA settled at USD 1630/MT.

Asia:

Across the Asian region, the Aniline market demonstrated a bearish price trend as prices steadily declined throughout Quarter 2 of 2023. Insufficient consumption rates within downstream MDI industries, stemming from sluggish demand for PU foam in manufacturing and ample supply availability, contributed to reduced demand from both regional and international importers. Similarly, Polyurethane elastomer and coating producers faced inadequate consumption rates during the quarter due to an inactive construction sector. The strengthening of the US Dollar and weakening of other currencies impacted contracted product prices in global markets. Slight price reductions were observed toward the quarter's end, driven by heightened buying activities in anticipation of the Dragon Boat festival in China. During the same period, feedstock Benzene prices also decreased, particularly from mid-quarter onwards, influenced by reduced cost pressure from upstream and decreased fuel consumption due to rising temperatures. Moreover, feedstock Nitric Acid prices declined during Q2, driven by subdued demand from fertilizer manufacturers, thus contributing to lowered Aniline production costs. As Q2 2023 concluded, Aniline prices in China reached USD 1530/MT.

Aniline Prices: https://www.chemanalyst.com/Pricing-data/aniline-27

Europe:

The European Aniline market experienced shifting price trends during Quarter 2 of 2023. Initially, prices exhibited firmness, with marginal increments driven by increased cost support from feedstock Benzene and the volatile dynamics of upstream Crude Oil prices. However, as mid-Q2 approached, cost pressures alleviated due to a contraction in upstream Crude Oil prices brought about by reduced consumption rates from refineries and declining fuel demand due to rising temperatures. Throughout the quarter, consistent decreases in feedstock Nitric Acid prices persisted, attributed to sluggish consumption in the fertilizer industry and reduced orders for agrochemicals in agriculture. These factors collectively contributed to decreased Aniline production costs. Additionally, reductions in Natural Gas prices further lowered variable costs during Quarter 2 of 2023. Demand for Aniline remained moderately subdued from downstream MDI producers, owing to weakened consumption rates of Polyurethane sealants and coatings within the construction and electronics sectors. As the quarter concluded, price declines intensified due to ample supply availability from Asia and decreased buying and manufacturing activities within the region. The rise in bank interest rates by the European Central Bank and the Bank of England, aimed at curbing inflation, made buyers cautious in their purchasing endeavors, resulting in a decline in unnecessary trading activities. Ultimately, Aniline prices in the Netherlands and Belgium reached USD 1575/MT and USD 1539/MT, respectively, by the end of Q2.

 

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