1、 Price data

As of June 12, the mainstream ex factory average price of domestic ground refined hydrogenated naphtha was 8935.75 RMB/ton, up 4.96% from 8513.25 RMB/ton on June 6. The actual transaction price of ground refined hydrogenated naphtha was about 8900-9000 RMB/ton.

As of June 12, the average ex factory price of domestic locally refined straight run naphtha was 8763.33 RMB/ton, up 4.61% from 8377.50 RMB/ton on June 6. The actual transaction price of locally refined straight run naphtha was about 8600-8800 RMB/ton.

2、 Analysis of influencing factors

Last week, the price of refined naphtha continued to rise, and refineries actively pushed it up. After the Dragon Boat Festival, the terminal just needed replenishment, and the market transaction was positive.

Upstream: as the international crude oil price rises, the EU's oil ban on sanctions against Russia has been delayed, and the expectation of tight supply remains unchanged. With the arrival of summer driving season in the United States, demand is expected to improve, and supply and demand fundamentals are still good for oil prices. At present, it is in the peak season of traditional consumption of crude oil, and it is also a season of high incidence of extreme weather such as hurricanes. Crude oil has a great tendency to hit a new high again, and the rise of international oil prices is unabated.

Downstream: according to the monitoring of the SunSirs, toluene rose strongly last week, with a one-day increase of more than 5%. On June 2, the price was 8160 RMB/ton, and on June 10, the price was 9230 RMB/ton, an increase of 13.11% over last week. Last week, mixed xylene rose continuously, with an increase of more than 10% within the week. On June 2, the price was 8220 RMB/ton; On June 10, the price was 9180 RMB/ton, up 11.68% from two weeks ago. In the PX market, the market price of paraxylene rose this week. As of the end of last week, the domestic ex factory price of paraxylene was 10600 RMB/ton, up 3.92% from the price of 10200 RMB/ton at the beginning of the week and 63.08% year-on-year.

3、 Aftermarket forecast

According to the energy analysts of SunSirs, the international crude oil price is rising, the naphtha market cost is supported, the refineries are actively pushing up, the reformer profits are good, and the gasoline price is rising continuously, but the terminal demand is not significantly good. It is expected that the naphtha refining in the near future may be dominated by consolidation.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.