SunSirs: The Price of China Refined Naphtha increased significantly (June 5-11)

According to the commodity analysis system of SunSirs, as of June 11, the average ex factory price of the mainstream Naphtha of domestic local refining and hydrogenation was 8,134.00 RMB/ton, up 6.06% from 7,669.00 RMB/ton on June 5, and the actual transaction price of local refining and hydrogenation Naphtha was about 8,000-8,200 RMB/ton.

As of June 11, the average ex factory price of domestic straight run Naphtha mainstream was 8,046.50 RMB/ton, up 7.73% from 7,469.00 RMB/ton on June 5. The actual transaction price of local straight run Naphtha was about 7,900-8,100 RMB/ton.

On June 11, the Naphtha commodity index was 100.39, unchanged from yesterday, 17.47% lower than the cycle's highest point of 121.64 (2022-03-10), and 137.67% higher than the lowest point of 42.24 on July 19, 2016. (Note: The cycle refers to the period from September 1st, 2012 to the present)

Last week, the price of locally refined Naphtha continued to rise. Reforming and ethylene were released in a centralized manner. The Naphtha market terminal just needed support. Market turnover was good, and refineries actively pushed up.

Last week, the international crude oil market fluctuated. Affected by the favorable supply of Saudi Arabia's plan to deepen production cuts, the bullish sentiment in the market has diluted the bearish sentiment of rising US refined oil inventories and weak Chinese data. The international crude oil prices are in a consolidation trend.

According to the monitoring of Business Society, toluene has been operating weakly last week. On June 5th, the price of toluene was at 7,150.00 RMB/ton, and on June 11th, it was at 7,120.00 RMB/ton, a decrease of 0.42%. Last week, the price of mixed xylene decreased slightly. On June 5th, the price of mixed xylene was 7,390 RMB/ton, and on June 11th, it was 7360 RMB/ton, a decrease of 0.41%. Last week, the price trend of PX remained temporarily stable. As of the weekend, the domestic ex factory price of xylene was 8,200 RMB/ton, which is the same as the price of 8,200 RMB/ton at the beginning of the week.

The energy analysts of the business society believe that the recent restructuring and centralized release of ethylene have just required support for the Naphtha market terminal, the market turnover is good, and refineries are actively pushing up. However, Naphtha prices rose sharply, terminal profits declined, and market trading was cautious. It is expected that China local refining Naphtha market will be weak in the near future.

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