According to the commodity analysis system of SunSirs, as of July 9, the average ex factory price of mainstream Naphtha of domestic local refining and hydrogenation was 7,696.50 RMB/ton, up 0.20% from 7,681.50 RMB/ton on July 3, and the actual transaction price of Naphtha of local refining and hydrogenation was about 7,600-7,700 RMB/ton.

As of July 9, the average ex factory price of domestic straight run Naphtha mainstream was 7,546.50 RMB/ton, down 0.03% from 7,549.00 RMB/ton on July 3. The actual transaction price of local straight run Naphtha was about 7,400-7,600 RMB/ton.

On July 9, the Naphtha commodity index was 94.99, unchanged from yesterday, 21.91% lower than the cycle's highest point of 121.64 (2022-03-10), and 124.88% higher than the lowest point of 42.24 on July 19, 2016. (Note: The cycle refers to the period from September 1st, 2012 to the present)

Last week, Naphtha prices of local refineries were mainly sorted out. In the first half of the week, tax policies were released, and related products of restructuring fell back. Naphtha market fell. In the second half of the week, a small amount of terminal ethylene cracking just needed to be released. Naphtha market rose slightly. This week, Naphtha market turnover was light, and businesses were mainly wait-and-see.

Last week, the international crude oil market fluctuated and rose. The expectation of tight supply due to OPEC tightening production in the oil producing country has overshadowed concerns about slowing demand due to the Federal Reserve's interest rate hike. The decline of the US dollar provides support for crude oil; The production reduction of the OPEC and its allies (OPEC+) increased supply concerns; The United States will purchase 6 million barrels of crude oil to fill its strategic oil reserves.

According to the monitoring of SunSirs, the price of toluene continued to rise last week. On July 3rd, the price of toluene was 7,060.00 RMB/ton, and on July 9th, it was 7,210.00 RMB/ton, an increase of 2.12%. Last week, the price of mixed xylene showed an upward trend. On July 3rd, the price of mixed xylene was 7,340 RMB/ton, and on July 7th, it was 7,540 RMB/ton, an increase of 2.72%. The PX price trend was temporarily stable this week. As of the weekend, the ex factory price of P-Xylene in China was 8,250 RMB/ton.

SunSirs energy analysts believe that the international crude oil shocks this week and rises, which has a weak impact on the Naphtha market. The recent new tax policy has affected the restructuring market, and the overall terminal demand is weak. The downstream just needs to purchase mainly, and the Naphtha market has a strong wait-and-see mood. It is expected that the local refining Naphtha market will be dominated by the weak in the near future.

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