As of September 30, the average ex factory price of domestic local refining hydrogenated naphtha mainstream was 8,223.33 RMB/ ton, down 1.91% from 8,383.33 RMB/ ton on September 26. The actual transaction price of local refining hydrogenated naphtha was about 8,000-8,300 RMB/ ton.

As of September 30, the average ex factory price of domestic straight run naphtha mainstream was 8,152.50 RMB/ ton, down 1.39% from 8,267.50 RMB/ ton on September 26. The actual transaction price of domestic straight run naphtha was about 7,900-8,200 RMB/ ton.

On September 30, the naphtha commodity index was 101.49, down 0.41 points from the previous day, 16.57% from the peak of 121.64 (2022-03-10) in the cycle, and 140.27% from 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 in the last week of September, and the refinery just needed to purchase. Affected by the bad news of the gasoline and diesel market, the terminal ethylene cracking demand was weak, and the market was in a wait-and-see mood. The refinery reduced the price and shipped.

Upstream: The international crude oil price rose in shock, the US dollar exchange rate continued to strengthen, suppressing the international oil price. In addition, there was no significant increase in demand, so the oil price was under certain pressure. Geopolitical risks have escalated, which has provided some support for oil prices. In the short term, the trend of international oil prices remains volatile.

Downstream: According to the monitoring of the business community, toluene decreased slightly this week, with the price at 7,720 RMB/ ton on September 26 and 7,680 RMB/ ton on September 30, down 0.52%. Mixed xylene fell slightly this week, with the price at 8,080 RMB/ ton on September 26 and 8,030 RMB/ ton on September 30, down 0.62%. In terms of PX market, the market price of paraxylene was stable in the last week of September, and the domestic ex factory price of paraxylene was 9000 RMB/ ton as of the weekend.

According to SunSirs energy analysts, the international crude oil price fluctuated and rose in the last week of September, supported by the cost of naphtha market, but affected by the bad news in the gasoline and diesel markets, the terminal ethylene cracking demand was weak, the market was in a strong wait-and-see mood, the refinery shipments were positive, and the transactions were light. It is expected that China naphtha refining in the near future will be weak.

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