As of November 20, the average ex-factory price of domestic hydrotreating and hydrotreating naphtha was 4,782.50 RMB/ ton, up 0.42% from 4,762.50 RMB/ ton at the beginning of last week. The actual transaction price of hydrotreated naphtha was about 4,800 RMB/ ton. The naphtha commodity index on November 20 was 59.02, down 0.04 points compared with the previous day, 42.49% lower than 102.62 points (2012-09-24), and 39.73% higher than the lowest point of 42.24 points on July 19, 2016. (Note: period refers to 2012-09-01 to now)

Last week, refining naphtha prices rose slightly, low inventory, no shipping pressure.

Upstream: the overseas epidemic situation is still serious, and the international crude oil market demand is not good; however, there is also good news that OPEC will prolong the production reduction, the US shale oil production will decrease, and the development of new crown vaccine will accelerate. The international crude oil price fluctuates upward, with WTI crude oil price increasing by 5.71% and Brent crude oil price increasing by 5.10% weekly.

Downstream: according to the monitoring of SunSirs, the domestic toluene market continued to rise last week. As of Friday, the domestic market average price was about 3,540 RMB/ ton, up 2.91% month on month. The domestic xylene market continued to rise last week. As of last Friday, the domestic market average price was about 3,630 RMB/ ton, up 2.48% month on month. Market oversupply, downstream PX, gasoline blending demand is general.

Industry: according to the price monitoring of SunSirs, in the 46th week (11.16-11.20) of 2020, there were 10 kinds of commodities rising in the energy sector, with WTI crude oil (4.41%), Brent crude oil (3.32%) and MTBE (2.80%). There were 5 kinds of commodities with a decline of more than 5%, accounting for 6.3% of the total number of commodities monitored in this sector; the top three products of decline were LNG (-5.34%), petroleum coke (-1.81%) and LPG (-1.80%). This week, all rose or fell 0.41%.

SunSirs Energy analysts believe that naphtha refining last week rose slightly, with low inventory and little pressure on shipment. It is expected that the price of China hydrotreating naphtha in the near future will rise steadily, with the price of about 4,800 RMB/ ton.

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