As of July 31, the mainstream average ex-factory price of domestic refined hydrogenated naphtha was 7,004.00 RMB/ ton, a decrease of 0.28% from 7,042.00 RMB/ ton on July 26. The actual transaction price of local refined hydrogenated naphtha was around 6,900- 7100 RMB/ ton.

As of July 31, the mainstream ex-factory price of domestic refined straight-run naphtha was 6,750.00 RMB/ ton, down 0.52% from 6,785.00 RMB/ ton on July 26. The actual transaction price of local refined straight-run naphtha was about 6,700- 6,800 RMB/ ton.

On July 31, the naphtha commodity index was 86.44, the same as the previous day, down 15.77% from the highest point of 102.62 in the cycle (September 24, 2012), and up 104.64% from the lowest point of 42.24 on July 19, 2016 (Note: period refers to 2012-09-01 to now).

The price of refined naphtha fell slightly last week. The refined naphtha market operated weakly last week, and the downstream was mainly on the sidelines.

Upstream: international crude oil prices rose, US crude oil inventories fell more than expected, and tight supply boosted oil prices. Data show that US crude oil supply hit the lowest level since January 2020, and oil prices further increased.

Downstream: According to the monitoring of SunSirs, the price of toluene rose slightly last week. The price of toluene was 5,780.00 RMB/ ton on July 26, and the price was 5,810.00 RMB/ ton on July 31, an increase of 30 RMB/ ton, an increase of 0.52%. The price of mixed xylene rose slightly last week. On July 26, the price of mixed xylene was 5,860.00 RMB/ ton, and on July 31, the price was 5,900.00 RMB/ ton, an increase of 40 RMB/ ton, or 0.68%. In the PX market, domestic PX prices remained stable last week, at RMB 7,100 RMB/ ton.

Industry: according to the price monitoring of SunSirs, there are 10 kinds of commodities rising month on month in the energy sector in the list of commodity prices rising and falling in the 30th week of 2021 (7.26-7.30), including 2 kinds of commodities rising by more than 5%, accounting for 12.5% of the monitored commodities in the sector; The top three commodities were LNG (8.05%), coking coal (6.22%) and petroleum coke (2.42%). There were three commodities with month on month decline, and the top three products were fuel oil (-0.52%), gasoline (-0.49%) and naphtha (-0.28%). The average rise and fall last week was 1.45%.

SunSirs energy analyst believes that the recent refining naphtha market is weak, the market trading is less, the downstream procurement is mainly on demand, and the market wait-and-see mood is strong. It is expected that the recent refining naphtha is mainly in consolidation in the near future.

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