For the Quarter Ending March 2023
North America
Aniline’s price trend remained firm during the 1st quarter of 2023, and prices rose marginally throughout the quarter. The orders were stable for MDI from Polyurethane industries due to sufficient availability of supplies amid moderate production rates and reduced activities in the manufacturing sector. At the same time, increases in Federal Reserve Interest rates throughout the quarter to curb rising inflation made the buyers conscious while making purchases. Due to an increase in upstream cost pressure amid volatile upstream costs, Aniline prices rose in the final month of Q1. At the end of the quarter, Aniline prices in the USA settled at USD 1765/MT.
Asia
Aniline price trend shifted sentiments in the Asian region during Q1 of 2023. Initially, prices witnessed a fall due to declined orders from MDI producers amid the new year holidays. Then the price trend shifted, and prices rose during the mid-quarter amid improved demand for MDI in the manufacturing sector due to increased demand for furniture in the retail sector. In the final month, the prices rose noticeably due to increased inquiries and market trading activities and stressed the availability of supplies due to plant shutdowns. At the same time, shifting upstream costs amid volatile crude oil prices raised the upstream cost pressure. At the end of the quarter, Aniline prices in China witnessed USD 1974/MT.
Europe
The Aniline price trend shifted sentiments during the Q1 of 2023. Initially, the prices continued to decline due to depressed orders from MDI producers due to sufficient availability of supplies. Due to the further depreciation in orders from the downstream amid weak demand from the manufacturing sector, Aniline prices plunged noticeably during the mid-quarter. Simultaneously, feedstock Nitric Acid prices fell throughout the quarter due to depressed demand from fertilizer producers and a significant reduction in the upstream Dutch TTF natural gas futures, which eased the cost support. However, towards the end of the quarter price trend rebounded, and prices rose due to volatile upstream costs and an increase in production costs. At the end of Q1, 2023, the Aniline price in the Netherlands settled at USD 1827/MT.
For the Quarter Ending December 2022
North America
Aniline price trend remained firm in the North American region during Q4 and shifted towards the end of the quarter. Initially, the product prices increased because of increased feedstock Benzene prices due to high upstream costs amid rising inflation and consistent demand and offtakes from the downstream MDI industries. The orders for the Polyurethane form were firm from the manufacturing sector during H1 of Q4 due to expected consumer demand from automotive manufacturers and furnishing mills because of the black Friday sale. However, in the final month of the quarter, the product prices decreased by exporters amid a decrease in the global freight charges, and Aniline prices in the USA settled at USD 1713/MT at the end of Q4.
Asia
In Asia, the price trend of Aniline fluctuated during Q4. At the beginning of quarter 4 of 2022, Aniline prices increased amid firm demand from importers due to affected supplies and increased upstream Crude oil and feedstock Benzene prices. However, in the mid-quarter, the prices started declining due to weak trading activities and an increase in domestic inventory levels in China because of disruption in the supply chain amid zero covid controls. At the end of Q4, product prices declined again amid destocking practices by the exporters amid the decline in global freight charges at the end of the year. At the end of Q4, Aniline prices in China settled at USD 1803/MT.
Europe
Aniline prices shifted during the Q4 of 2022 in the European region. Because of an explosion in the Beixi pipeline, production rates remained hampered amid input supply shortages, and production costs rose at the beginning of Q4. However, from the second month of the quarter, the product price trend shifted and decreased till the end of the quarter amid increased inventory levels and a reduction in input costs. A reduction in offtakes by downstream MDI producers on the back of reduced orders for PU from the household goods producers kept the prices low. At the end of the quarter, Aniline prices in Belgium settled at USD 2030/MT.
For The Quarter Ending September 2022
North America
Aniline price trend oscillated during the Q3 of 2022. The prices plunged from the beginning of the quarter until the mid-quarter because of reduced demand sentiments from the downstream MDI producers. At the same time, the production costs of Aniline decreased due to a decrease in feedstock Benzene prices due to the availability of excess supplies. However, the price trend revived in the final month towards the end of Q3, and prices increased due to increased production costs caused by disrupted feedstock supplies. Consequently, after witnessing a plunge of almost 8% against the previous quarter's prices, Aniline prices in the USA settled at USD 1502/MT at the end of Q3.
Asia
Aniline prices decreased during the 3rd quarter of 2022 due to weak demand sentiments from the downstream industries. Major MDI producers in China decreased their operational rates on Government's instructions due to constant heat waves in the summer. Additionally, the depreciation in the currency values of major producers like China due to the economic slowdown amid frequent lockdowns negatively impacted the product's prices. However, towards the end, the price trend revived in India on the back of increased product offtakes but remained the same in China. At the end of Q3, Aniline prices in China and India settled at USD 1753/MT and USD 2295/MT, respectively.
Europe
A shifting price trend of Aniline was observed in the European region during Q3 of 2022. The product prices decreased until the quarter's final month due to reduced offtakes due to no significant demand from downstream MDI producers. In the last month, the price trend shifted, and Aniline prices inclined upward on the back of decreased inventory levels caused by production curtailment amid high energy prices and rationing of input supplies by the exporters. Additionally, the high inflation depreciated the Euro values against the US Dollar, more significantly towards the end of the quarter. After witnessing a decrease of 6.6% against the Q2 values, Aniline's prices in Germany settled at USD 2104/MT.
For the Quarter Ending June 2022
North America
During the second quarter of 2022, the price of Aniline in the US market showcased an oscillating price trend. In the early Q2, the cost of Aniline rose following the raw material price trend. The upstream Crude and the feedstock nitrobenzene prices were inflating, due to the limited availability of the product, triggering the Aniline price hike. Moreover, the domestic market demand was also increasing, ushering in the Aniline price rise. Whereas, in June, there was a drop in the Aniline pricing due to the weak purchasing activity from the downstream derivative Methylene Diphenyl Diisocyanate market. The high inventories in the previous month resulted in the ample availability of the product. Furthermore, the fear of recession took place, pulling down the upstream crude prices and negatively impacting the Aniline pricing.
APAC
Aniline market fell in India in the second quarter ending June 2022. The price drop was supported by the poor demand from the domestic market. The drop in imported cargoes and the weak buying sentiments also led to the Aniline price fall. Despite the western sanctions, India and China imported a large quantity of upstream Crude from Russia at a discounted price. Thus, the huge availability of Crude led to the price drop of feedstock Benzene and Nitrobenzene. Following the raw material prices, the Aniline price trend also showcased a downward movement in the Indian market. Moreover, the reduced requirement from the downstream derivative MDI manufacturers further decreased Aniline prices.
Europe
For the second quarter of 2022, the Aniline market witnessed a see-saw price trend in the European region. At the beginning of the second quarter, the surge in the raw material values influenced the price trend of Aniline in the German market. After the sanction on importing Russian Crude oil, there was a tight supply of the product in the domestic market, resulting in the inflated Crude prices. Moreover, the healthy buying sentiments in the domestic market also triggered the Aniline values. Later, in June Aniline market dropped slightly due to the increased production in the previous months leading to the piling up of the product forcing the manufacturers to revise their offers.
For the Quarter Ending March 2022
North America
Aniline market showcased an uptrend in North America during the first quarter of 2022. Soaring feedstocks and energy costs backed the quarterly growth of Aniline due to the Russian invasion of Ukraine. The economic growth rate influenced regional demand predictions in transportation and manufacturing, and crude oil market sentiments fluctuated dramatically in response to changes in economic fundamentals. Also, the growing freight charges influenced by the skyrocketing fuel costs and shipping halt to Russia have negatively impacted the Aniline values. As a result, in the USA, prices for Aniline settled at USD 1470 per MT CFR Texas in March.
Asia Pacific
During the first quarter of 2022, Aniline prices witnessed a drastic upward trend in India with a growth of 36.6%. Limited supply from China caused the price hike as the production remained halted on account of Lunar holidays and winter Olympics. Firm demand and shortage of supply from the regional market resulted in an upward trend in the Aniline market. In addition, increased COVID cases and lockdown implementation affected the trade, and the disruption caused by the geopolitical tension led to skyrocketing upstream crude and feedstock prices which influenced the price of Aniline. Thus, the Aniline price in India was observed at USD 2651 per MT CFR JNPT in March 2022.
Europe
In Europe, Aniline prices showcased an upward trajectory during the first quarter of 2022 due to strong market sentiments and insufficient supply of raw materials. The recovering market sentiments in Germany after the rising COVID cases and lockdown restrictions have also influenced the price hike. Prices rose due to increased consumption from the downstream sector, which includes drugs, dyes, and rubber chemicals. Aniline prices in Europe rose by nearly 4% in the month of March 2022.
For the Quarter Ending December 2021
North America
Aniline prices showcased mixed emotions in the US market during the fourth quarter of 2021 depending upon the demand outlook. Aniline prices appeared to bullish in October backed by the tight supplies and high demand. Moreover, strong values of upstream Benzene also supported the prices. In November, Aniline prices relatively eased off backed by reduction in freight charges coupled with the ample availability. However, Aniline fundamentals rebounded back again in December due to firm demand from downstream MDI manufacturers and volatility in crude oil values.
Asia
In Asia Pacific, Aniline market sentiments differ from country to country during the fourth quarter of 2021. In China, Aniline prices witnessed an overall increment in this quarter backed by the sturdy demand from the downstream industries including PU foams, Synthetic Dyes, Agrochemicals etc. Moreover, firm prices of raw material Benzene also aided pricing trend of Aniline. Thus, FOB Qingdao Aniline prices assessed at USD 1655/MT in December. In India, Aniline market sentiments remained bearish, and a substantial decline was seen in its prices in effect of ample supplies and lower buying momentum from downstream manufacturers. Hence, Ex-Mumbai Aniline prices tumbled down to USD 2025.45/MT from USD 2132.16/MT in the timeframe of October to
December.
Europe
Aniline prices witnessed an upward trajectory across the European region during the fourth quarter of 2021. Firm values of feedstock Benzene owing to the volatile upstream crude oil fundamentals supported the prices of Aniline in this timeframe. Additionally, Aniline price rise was also prompted by the strong demand from downstream MDI manufacturers. Moreover, many local manufacturers were forced to curtail their production levels due to acute energy crises that led to supply shortage and consequently fumed Aniline prices in this quarter.
