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SunSirs: Naphtha prices fell rapidly from high price last week
June 21 2022 09:23:34()

1、 Price data

As of June 19, the mainstream ex factory average price of domestic ground refined hydrogenated naphtha was 8825.75 RMB/ton, down 0.95% from 8910.75 RMB/ton on June 13. The actual transaction price of ground refined hydrogenated naphtha was about 8800-8900 RMB/ton.

As of June 19, the mainstream ex factory average price of domestic locally refined straight run naphtha was 8716.67 RMB/ton, down 0.91% from 8796.67 RMB/ton on June 13. The actual transaction price of locally refined straight run naphtha was about 8700-8800 RMB/ton.

2、 Analysis of influencing factors

Last week, the local refining naphtha price fell at a high level, the refineries actively pushed up, the international crude oil price fell, the naphtha market cost support was limited, the market mentality was pessimistic, the terminal demand was not significantly good, and the refineries continuously lowered prices and actively shipped.

Upstream: the decline in international crude oil prices is mainly due to the resonance impact of the general decline in the stock market and bulk commodities. Bulk commodity prices are generally at historical highs. Once the market is in trouble, a broad shock correction is inevitable. However, the fundamentals in key areas such as crude oil and agricultural products have not been reversed. In particular, the Russian Ukrainian war has led to tight supply. Therefore, it is expected that it will take time to peak or reverse the downward trend.

Downstream: according to the monitoring of SunSirs, the price of toluene fell continuously last week. On June 10, the price was 9230 RMB/ton, and on June 17, the price was 9060 RMB/ton, down 1.84% compared with the previous two weeks. Xylene fell continuously last week. On June 10, the price was 9180 RMB/ton, and on June 17, the price was 8840 RMB/ton, down 3.7% compared with the previous two weeks. In the PX market, the market price of paraxylene rose last week. As of the end of last week, the domestic ex factory price of paraxylene was 10900 RMB/ton, up 2.83% from the price of 10600 RMB/ton at the beginning of the previous two weeks, up 67.69% year-on-year.

3、 Aftermarket forecast

According to the energy analysts of the SunSirs, the international crude oil price fell, the naphtha market cost support was limited, the market mentality was pessimistic, the terminal demand was not significantly positive, and the refineries continued to reduce their prices and actively shipped. It is expected that refined naphtha in the near future may decline slightly.

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

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