As of June 20, the mainstream ex-factory average price of domestic refining naphtha was 6,823.33 RMB/ ton, up 0.90% compared with 6,762.50 RMB/ ton on June 14. The actual transaction price of refining naphtha was about 6,900 RMB/ ton.
As of June 20, the mainstream ex-factory average price of refined straight run naphtha in China was 6,670.00 RMB/ ton, up 2.18% compared with 6,527.50 RMB/ ton on June 14. The actual transaction price of refined straight run naphtha was about 6,700 RMB/ ton.
On June 20, the naphtha commodity index was 84.17, which was the same as the previous day, decreased by 17.98% from 102.62 (2012-09-24), the highest point in the cycle, and increased by 99.27% from 42.24, the lowest point on July 19, 2016(Note: period refers to the period from September 1, 2012 to now)
Last week, the price of naphtha increased slightly. There was no inventory pressure in the local refining market.
Upstream: the international oil price fluctuates and rises, the stronger US dollar drags down the oil price, the surge of new cases in the UK rekindles the market demand worry, and the expectation of Iran’s oil returning to the market has brought impact on the oil market. OPEC related personage said that the growth of us oil production in 2021 is expected to be limited, and the oil price will gain upward momentum within OPEC’s more controllable expectation.
Downstream: according to the monitoring of SunSirs, the trend of toluene fell first and then rose last week. The price of toluene was 5,801 RMB/ ton on June 13 and 5,801 RMB/ ton on June 20, down 30 RMB/ ton or 0.51% from the previous week. The price of mixed xylene dropped continuously last week. On June 13, the price of mixed xylene was 5,870 RMB/ ton, and on June 20, the price was 5,840 RMB/ ton, down 30 RMB/ ton or 0.51% compared with the previous week. In the PX market, the domestic PX price remained stable last week, which was about 6,500 RMB/ ton.
Industry: according to the price monitoring of SunSirs, in the list of commodity prices in the 24th week of 2021 (6.14-6.18), there were 10 kinds of commodities in the energy sector that rose month on month, and the top three commodities were steam coal (4.56%), MTBE (4.12%) and LNG (2.26%). There were three kinds of commodities that declined on a month on month basis, and the top three products were DME (-3.88%), diesel (-0.81%) and petroleum coke (-0.30%). The average rise and fall last week was 0.8%.
SunSirs energy analysts believe that the current market supply is sufficient, naphtha market high turnover is limited, refinery shipping pressure is not big, it is expected that naphtha prices will be weak and stable in the near future in China.
