I. Key Points
Pure Benzene: Expectations of Saudi oil pipeline repairs improving, combined with signs of easing tensions in the Middle East, led to a decline in international crude oil prices. The November contract for ICE Brent futures closed at $103.87/bbl, down $0.95/bbl or -0.91% from the previous session. The easing of Middle East tensions triggered a drop in crude oil prices, causing the market to experience a sharp decline last Friday. Today, lacking clear guidance from both the futures market and crude oil prices, the market is expected to maintain weak sideways fluctuations.
II. Price Table
| Region | Sep 20 | Sep 18 | Change |
|---|---|---|---|
| East China | 13,920 | 13,770 | +150 |
| Shandong | 13,700 | 13,600 | +100 |
| Notes: | |||
| 1. RMB prices for East China are ex-factory acceptance-inclusive tax prices; RMB prices for Shandong are ex-factory cash prices. | |||
| 2. Prices represent point-in-time values for the two weeks preceding this week, not weekly averages. | |||
| 3. Change represents the period-over-period variation. |
III. Data Table
| Aniline Industry Supply-Demand Data | ||||
|---|---|---|---|---|
| Indicator | 2026/9/17 | 2026/9/10 | Change Rate | Next Week Forecast |
| Capacity Utilization Rate | 84.48% | 81.15% | +3.33% | ↑ |
| Production Profit Margin | 20.94% | 23.46% | -2.52% | ↑ |
| Output | 8.63 | 8.29 | +0.34 | ↑ |
| 1. Capacity utilization rate reflects production levels, defined as the ratio of actual output by producing enterprises to their total capacity. | ||||
| 2. Production profit margin is an industry-wide metric reflecting overall profitability in major regions, calculated as industry profit divided by average price. | ||||
| 3. Output refers to the weekly domestic aniline industry capacity, unit: 10,000 tons. |
IV. Market Outlook
With the holiday approaching, market stockpiling sentiment is strong. Combined with tightening spot supply, confidence in the aniline market remains robust. However, the raw material pure benzene has shifted from strength to weakness, limiting aniline's potential gains. Consequently, domestic aniline prices are expected to see rational, modest increases.
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