According to the Commodity Analysis System of SunSirs, as of December 18th, the mainstream ex factory price of domestic refined hydrogenated naphtha was 7,794.00 RMB/ton, a decrease of 0.45% from December 11th at 7,829.00 RMB/ton. The actual transaction price of refined hydrogenated naphtha was around 7,700-7,800 RMB/ton.

As of December 18th, the mainstream ex factory price of domestically refined straight run naphtha was 7,739.00 RMB/ton, a 0.16% decrease from December 11th's 7,751.50 RMB/ton price. The actual transaction price of domestically refined straight run naphtha was around 7,700-7,750 RMB/ton.

Last week, the market for refined naphtha was weak, with limited terminal demand and primary demand for essential purchases. In addition, the recent rainy and snowy weather in the north has affected logistics, resulting in light market trading and refineries reducing prices for shipments.

Upstream: The international crude oil market has rebounded after a recent decline. The unexpected increase in US CPI data released on the 12th has lowered market expectations for the Federal Reserve's interest rate cut early next year due to the rebound in inflation; Overlapping market concerns about oversupply. The weakening of the US dollar has boosted oil price valuations, coupled with the International Energy Agency (IEA) raising its forecast for next year's oil demand, boosting the oil market.

Downstream: According to the monitoring of SunSirs, the price of toluene has slightly declined, and international crude oil prices have fluctuated and stabilized. Although there has been a rebound in the cost of toluene, the overall support is weak, and the downstream mixed blending of toluene and other industries require weak support; The price of mixed xylene has slightly increased; The price trend of PX is temporarily stable. Downstream support for the naphtha market is generally weak.

Energy analysts from SunSirs believe that the international crude oil market is volatile, increasing the wait-and-see sentiment in the naphtha market; The domestic gasoline and diesel market has entered the off-season, and there is no significant positive effect on the terminal of refined naphtha; The rainy and snowy weather in the north has basically ended, and logistics have gradually resumed. In addition, there is currently a small amount of demand for ethylene released, and it is expected that the local refined naphtha market may experience a pullback in the near future.

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