As of January 29, the mainstream ex-factory average price of domestic refining naphtha was 5,550.00 yuan / ton, down 0.13% from 5,557.50 yuan / ton at the beginning of the week. The actual transaction price of refining naphtha was about 5,500 yuan / ton.

On January 29, the naphtha commodity index was 68.50, unchanged from the previous day, down 33.25% from 102.62 (2012-09-24), the highest point in the cycle, and up 62.17% from 42.24, the lowest point on July 19, 2016. (Note: period refers to from September 1, 2012 to now)

Last week, refining naphtha prices fell slightly, refineries actively to remove inventory.

Upstream: U.S. crude oil stocks are declining, the U.S. dollar is weakening, and the global epidemic is still serious. The market is more concerned about the delay of vaccination and new travel restrictions that may depress demand. Last week, WTI crude oil prices rose 0.13% and Brent crude oil prices fell 0.56%.

Downstream: according to the monitoring of SunSirs, toluene continued to rise in China last week. On January 25, the price of toluene was 4,150 yuan / ton; on January 29, the price of toluene was 4,225 yuan / ton, up 75 yuan / ton, or 1.81%. Last week, the domestic market price of mixed xylene showed an upward trend. On January 25, xylene price was 4,230 yuan / ton; on January 29, xylene price was 4,320 yuan / ton, up 90 yuan / ton, up 2.13%. In terms of PX market, the trend of domestic p-xylene ex-factory price was temporarily stable last week. The domestic PX operating rate was about 60%. The average price at the weekend was 5,200 yuan / ton, which was flat compared with the price at the beginning of the week, with a year-on-year decline of 24.64%.

According to SunSirs energy analysts, the naphtha market is supported by the international crude oil and domestic terminal market in the near future, but affected by the domestic epidemic, the logistics is limited, and refineries are actively de stocking at the end of the year. It is expected that the price of locally refined hydrogenated naphtha will be stable in the near future, at about 5,500 yuan / ton.

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