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Pure Benzene-Aniline-MDI Industry Chain: Vigilance Risk

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After the price of styrene fell sharply to 6,800 yuan/ton, the seller considered that it had reached the bottom and raised the offer all at once. The price of styrene once climbed to a high of 7,800-8,000 yuan/ton. Affected by this, the benzene market was able to breathe. The price stabilized after a slight upward trend. The spot market traders shipped positively and the downstream goods received cautiously. The market price of pure benzene in East China market was 4600-4750 yuan/ton; the pure benzene price in North China market. 4650-4800 yuan / ton, South China market prices in the 4700-4800 yuan / ton.

In terms of domestic refineries, the price of pure benzene in the northeastern sales branch of PetroChina was lowered by 400 yuan/ton to 4,950 yuan/ton. The execution price of Sinopec Shanghai Branch is 5,000 yuan/ton, and that of Guangzhou Branch is 5,000 yuan/ton. The execution price of Sinopec Beijing and Wuhan Branch is 5,000 yuan/ton.

In the case of petroleum benzene replacement products, the market for hydrogenated benzene and refined benzene is relatively small when benzene is in a low state. Hydrogenated benzene multiple sets of new equipment put into operation, production capacity will be released within a short period of time, due to cheap, will seize part of the oil benzene market. However, the current overall situation of the industry is not optimistic. First, the supply of crude benzene for hydrogenation of benzene raw materials is in short supply, prices are not stable, and benzene hydrogenation companies also have a relatively high cost risk; second, the price difference between petroleum and benzene is not large, and the amount of market injection is suppressed. . Refined benzene companies still face the “winter season”. At present, almost all production enterprises are parked, part of them are converted, and they are facing bankruptcy. Only one company produces and operates.

The price of aniline is temporarily stable. The price of existing aniline is 7600-7800 yuan/ton. The aniline company stated that the recent downstream Wanhua MDI unit was shut down for maintenance, and part of the aniline supply companies also stopped at the same time, and the industry continued to limit production.

There is a further increase in the supply of aniline. The successful launch of the 150,000-ton/year plant of Jilin Connell will further increase production. Yantai Wanhua plans to stop and repair from May 1st to 27th. The market will reduce the demand for aniline from 13,000 to 14,000 tons, and some dyes and pharmaceutical industries will have unstable demand for aniline, all of which are likely to form aniline market. The demand in May is reduced. At the same time as the impact of other aniline manufacturers' operating rates increased, the balance of supply and demand in the market is facing a test.

Thanks to “home appliances to the countryside”, the production and sales of polymerized MDI, which is its raw material, have been boosted. At the same time, the traditional peak season of the polyurethane industry has come, and part of the raw material products of the polyurethane industry have reached a situation where demand exceeds supply. The demand for pure MDI downstream is not strong, but it is difficult to block the rising trend of pure MDI prices, and the price rose to 22500-23,000 yuan/ton. Polymerization MDI benefited from the downstream demand season. The supply of the market was tight and the gains were significant. The current market price rose to 16800-17500 yuan/ton. The Ningbo Wanhua MDI device is scheduled to stop for maintenance on May 15 and lasts for about one month. The MDI market outlook will face tight supply.

Looking at the pure benzene-aniline-MDI industrial chain, pure benzene is greatly affected by styrene, and there are many risk factors for speculation; aniline manufacturers are facing the risk of unbalanced supply; MDI is still subject to further increase due to supply and demand. Enterprises in the industrial chain should coordinate upstream and downstream to avoid risks.

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