SunSirs: Analysis of China Naphtha and Processing Spread Trends (June 22)
June 23 2026 16:01:46 SunSirs (Selena)
On June 22, the CFR Japan naphtha price stood at $674.50/ton, while the ethylene-naphtha processing spread was -$54.50/ton, marking a month-on-month increase of $2.00/ton.
With the CFR Japan naphtha quote at $674.50/ton and the ethylene-naphtha processing spread at -$54.50/ton, the spread remains inverted despite a slight month-on-month recovery of $2. Profitability in the downstream ethylene production sector remains under pressure, which will dampen procurement demand for naphtha and exert a generally bearish influence on naphtha spot prices.
The ethylene-naphtha processing spread of -$54.50/ton represents a slight month-on-month increase of $2/ton; the narrowing of losses in ethylene production provides a modest bullish support for ethylene spot prices.
SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.
- 2026-09-03 SunSirs: Geopolitical Premiums and Technical Breakouts Push Naphtha Prices to Recent Highs
- 2026-08-12 SunSirs: Oil Refining: The True Bottleneck in the Global Energy System
- 2026-07-23 SunSirs: Analysis of Naphtha-Ethylene Processing Spread (July 21)
- 2026-07-06 SunSirs: Demand Plummets, China Naphtha Market Continues to Slide
- 2026-06-10 SunSirs: Analysis of China Naphtha Prices and Ethylene-Naphtha Processing Spreads in June
