Nitrobenzene prices remained relatively stable in the first half of September xxxx largely driven by suppliers’ resistance to weakening demand as spreads widened in the first half of September xxxx. Weakening of Nitrobenzene demand was driven by closure of derivative chemical plants in China amidst Autumn festivities and lower workdays planned. While the production situation did drop, higher stocks and unsold inventories carried over. The positive push for Nitrobenzene prices has diminished significantly as crude and naphtha prices for the past two months have remained historically lows.
In APAC markets led by China, consumption of Aniline dropped in September due to higher stocks and frequent outages in East China region due to heavy rains and flooding. The spot prices for the downstream Aniline dropped from USD xxxx/MT to USD xxxx/MT EXW Qingdao basis. The drop was aided by falling production...
