SunSirs: No Obvious Positive News at the Terminal, China Refined Naphtha Market is fluctuating

According to the Commodity Analysis System of SunSirs, as of August 14th, the mainstream factory price of domestic refined and hydrogenated naphtha was 8,121.50 RMB/ton, an increase of 0.09% compared to August 7th at 8,114.00 RMB/ton. The actual transaction price of refined and hydrogenated naphtha is around 8,000-8,300 RMB/ton.

As of August 14th, the mainstream factory average price of locally refined straight-run naphtha in China was 7,904.00 RMB/ton, a decrease of 0.53% compared to August 7th at 7,946.50 RMB/ton. The actual transaction price of locally refined straight-run naphtha was around 7,800-8,100 RMB/ton.

On August 14th, the naphtha commodity index was 100.23, a decrease of 0.25 points from yesterday, a decrease of 17.60% from the highest point in the cycle of 121.64 points (2022-03-10), and an increase of 137.29% from the lowest point of 42.24 points on July 19th, 2016. (Note: The cycle refers to the period from September 1st, 2012 to the present)

Last week, the market for refined naphtha fluctuated, but this week, there was a significant positive trend in the terminal market. Refineries were actively shipping, merchants were cautious in chasing higher prices, and there was a strong wait-and-see sentiment. The transaction was mainly on demand.

Last week, the international crude oil market fluctuated and rose. Due to concerns about market supply and continued fermentation, coupled with the positive phase of the peak oil consumption season, OPEC+, an oil producing country, has continued to reduce production by an additional scale, and the decline in finished oil storage in the United States has exceeded expectations.

According to the monitoring of SunSirs, the price of toluene increased last week. On August 14th, the price of toluene was 8,100 RMB/ton, and on August 7th, it was 8,030 RMB/ton, an increase of 0.87%. Last week, the price of mixed xylene increased. On August 14th, the price of mixed xylene was 8,630 RMB/ton, and on August 7th, it was 8,420 RMB/ton, an increase of 2.49%. Last week, the price trend of PX increased, with a price of 9,100 RMB/ton on August 14th and 8,800 RMB/ton on August 7th, an increase of 1.11%.

Energy analysts from SunSirs believe that the recent market volatility of local refined naphtha is the main trend, with refineries actively shipping and merchants being cautious in chasing high prices. There is a strong wait-and-see sentiment, and transactions are mainly in demand. In addition, there is no significant positive trend in the terminal reforming of ethylene, and it is expected that the local refined naphtha market will be mainly weak in the near future.

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