SunSirs: Naphtha Price of Local Refineries Rose slightly Lst Week (December 28-31)

As of December 31, the mainstream ex-factory average price of domestic refining naphtha was 5,505.00 RMB/ ton, up 1.43% from 5,427.50 RMB/ ton at the beginning of the week. The actual transaction price of refining naphtha was about 5,400 RMB/ ton.

On December 31, the naphtha commodity index was 67.94, up 0.8 points from the previous day, down 33.79% from the highest 102.62 points (2012-09-24) in the cycle, and up 60.84% from the lowest 42.24 points on July 19, 2016. (Note: period refers to from September 1, 2012 to now)

Last week, refining naphtha prices rose slightly, inventory was low, no shipping pressure.

Upstream: US crude oil stocks fell due to the positive news of the new crown vaccine, and OPEC+ was still cautious about increasing production. WTI crude oil rose 0.32% and Brent crude oil rose 0.54% last week.

Downstream: according to the monitoring of SunSirs, the domestic toluene market fell slightly last week. As of Thursday, the average price of domestic market was about 3,730 RMB/ ton, down 0.53%. Last week, the domestic xylene market showed a stable trend. As of Thursday, the average price of the domestic market was about 3,954 RMB/ ton, down 1.40% compared with last week. In PX market, the price trend of domestic p-xylene market rose sharply, and the average price of domestic market was about 4,700 RMB/ ton.

According to the energy analysts of SunSirs, the naphtha market is supported by international crude oil and domestic refined oil in the near future, and the inventory of refineries is low at present, the shipping pressure is not big, as well as the impact of the restrictions on dangerous chemicals during the New Year's Holidays. It is expected that the price of China refined hydrogenated naphtha will keep stable in the near future, with the price around 5,400 RMB/ ton.

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