As of September 18, the average ex factory price of domestic local refining hydrogenated naphtha mainstream was 8,533.33 RMB/ ton, down 2.10% from 8,716.67 RMB/ ton on September 12. The actual transaction price of local refining hydrogenated naphtha was about 8,500-8,600 RMB/ ton.

As of September 18, the average ex factory price of domestic straight run naphtha mainstream was 8,370.00 RMB/ ton, down 2.05% from 8,545.00 RMB/ ton on September 12. The actual transaction price of local straight run naphtha was about 8,300-8,400 RMB/ ton.

On September 18, the naphtha commodity index was 105.32, unchanged from the previous day, 13.42% lower than the cycle's highest point of 121.64 (2022-03-10), and 149.34% higher than the lowest point of 42.24 on July 19, 2016. (Note: the cycle refers to the period from September 1, 2012 to now)

The price of refined naphtha fell last week, and the refinery just needed to purchase. Affected by the falling price of gasoline and diesel, the demand for terminal ethylene cracking was general, and the market was in a wait-and-see mood. The refinery reduced the price and shipped.

Upstream: The international crude oil price fluctuates. At the macro level, the Federal Reserve may significantly increase interest rates, making the dollar stronger again, depressing oil price estimates. In addition, the global economic recession is expected to continue to depress oil prices. The good news on the supply side of the oil market and the bad news on the demand side will continue to play a game. In particular, the trend of geopolitical tension is becoming more serious, and the oil price is subject to more interference factors, which will further aggravate the shock of the oil market.

Downstream: According to the monitoring of the business community, toluene fell weakly this week, with the price at 7,840 RMB/ ton on September 9 and 7,700 RMB/ ton on September 16, down 1.79% from last week. Mixed xylene fell by a narrow margin last week. On September 9, the price was 8,180 RMB/ ton, and on September 16, the price was 8,120 RMB/ ton, down 0.73% from last week. In terms of PX market, the price trend of paraxylene market rose last week. As of the weekend, the factory price of domestic paraxylene was 9,000 RMB/ ton, 2.27% higher than the price of 8,800 RMB/ ton at the beginning of the week, 26.76% higher than the same period last year.

SunSirs energy analysts believed that the international crude oil price fluctuated last week, and the cost support of the naphtha market was limited. Affected by the fall of gasoline and diesel prices, the terminal ethylene cracking demand was average, and the refinery reduced the price to ship. The market was full of wait-and-see sentiment, and the naphtha market price fell. It is expected that the local refining naphtha will continue to decline in China in the near future.

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