As of January 15, the average ex-factory price of domestic local refined hydrotreated naphtha was 7,714.00 RMB/ton, up 2.22% from 7,546.50 RMB/ton on January 9, and the actual transaction price of local refined hydrotreated naphtha was around 7,700-8,000 RMB/ton.

As of January 15, the average ex-factory price of domestic straight-run naphtha was 7,739.00 RMB/ton, up 3.72% from 7,461.50 RMB/ton on January 9, and the actual transaction price of local straight-run naphtha was around 7,600-7,900 RMB/ton.

The naphtha commodity index on January 15 was 95.21, which was the same as the previous day, decreased by 21.73% from the highest point of 121.64 points (2022-03-10) in the cycle, and increased by 125.40% from the lowest point of 42.24 points on July 19, 2016. (Note: the cycle refers to the period from September 1, 2012 to now)

Last week, the price of local refining naphtha rose, the shipment was positive, the local refining and reforming just needed replenishment to support the market, the gasoline and diesel prices went down, and the local refining naphtha wait-and-see sentiment increased.

Upstream: The international crude oil price rose, which was affected by the optimistic expectation of China's demand outlook and the unexpected drop in consumer prices in the United States in December, which slowed the tightening monetary policy of the Federal Reserve and supported the oil price.

Downstream: According to the monitoring of SunSirs, the price of toluene rose continuously last week, with the price of 6,290 RMB/ton on January 6 and 6,590 RMB/ton on January 13, up 4.77%. The price of mixed xylene continued to rise last week. The price was 6,790 RMB/ton on January 6 and 6,920 RMB/ton on January 13, up 1.91%. In the PX market, the price trend was temporarily stable last week, and the ex-factory price of domestic paraxylene was 8,000 RMB/ton by the end of the week.

According to the energy analysts of SunSirs, the international crude oil rose last week, and the cost of local refining naphtha was supported. Before the festival, the local refining and reforming just needed replenishment to support the naphtha market, but the gasoline and diesel market fell, and the local refining naphtha was in a strong wait-and-see mood. With the arrival of the Spring Festival, logistics is blocked, and it is expected that       China naphtha refining in the near future will be dominated by weak consolidation.

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