Weekly Outlook for the Aniline Market

I. Key Focus Areas

Pure Benzene: Iran has proposed a seven-day plan to the United States to promote peace negotiations; if accepted by the U.S., the Strait of Hormuz will be fully reopened. ICE Brent crude futures for November delivery closed at $104.32 per barrel, down $2.28 or -2.14% week-on-week. With renewed expectations of easing tensions in the strait and the conclusion of September deliveries, price forecasts for pure benzene suggest a decline. A pullback from current high levels is expected this week.

II. Price Table

Notes:

1. Prices for East China are factory-gate prices including VAT, settled via bank acceptance drafts. Prices for Shandong are factory-gate prices including VAT, settled via cash remittance.
2. The two listed dates represent spot prices from the previous two weeks prior to this report, not weekly averages.
3. The change value reflects the week-on-week variation.

III. Data Table

Notes:

1. The capacity utilization rate indicates production intensity, calculated as the ratio of actual output to installed capacity for operating facilities.
2. The production profit margin is an industry-wide metric reflecting overall profitability in mainstream regions, calculated as the ratio of industry profit to the average price.
3. Output refers to the weekly domestic aniline production volume, measured in 10,000 tons.

IV. Market Outlook

The aniline market experienced strong trading activity in the preceding period, with limited quantities available for external sale. Customers continued normal pickups during the holiday. As National Day approaches, demand remains robust, and raw material pure benzene prices have surged back above 10,000 CNY/ton. Consequently, aniline prices are expected to maintain a firm trend.