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The Price of China Local Refined Naphtha Declined slightly Last Week

Increase font size  Decrease font size Date:2022-11-18   Views:38

  As of November 13, the average ex factory price of domestic local refining hydrogenated naphtha mainstream was 8,169.67 RMB/ ton, down 0.61% from 8,219.67 RMB/ ton on November 7. The actual transaction price of local refining hydrogenated naphtha was about 8,200 RMB/ ton.



  As of November 13, the average ex factory price of domestic straight run naphtha mainstream was 7,822.00 RMB/ ton, down 2.90% from 8,055.33 RMB/ ton on November 7. The actual transaction price of local straight run naphtha was about 7,800 RMB/ ton.



  On November 13, the naphtha commodity index was 100.83, unchanged from yesterday, down 17.11% from the highest point of 121.64 (2022-03-10) in the cycle, and up 138.71% from the lowest point of 42.24 on July 19, 2016. (Note: the cycle refers to the period from September 1, 2012 to now)



  The price of refined naphtha fell last week, and the terminal ethylene and reforming were lack of obvious advantages. The purchase was based on demand, the refinery was active in shipping, and the merchants were mainly wait-and-see. The transaction was cautious.



  Upstream: International crude oil prices fell in shock. OPEC will start to reduce production in November. At that time, crude oil production will decline, strongly supporting oil prices. EIA data shows that the US crude oil export volume has reached a record high, and the US total crude oil inventory has fallen to a nearly 21 year low, promoting the rise of crude oil prices. However, the overall economy is weak, and the prospect of energy demand is still not optimistic. The economic weakness depresses oil prices. The oil demand expectation in Asia is still uncertain. With the mid-term elections in the United States looming, the market's worries about demand have depressed oil prices.



  Downstream: According to the monitoring of SunSirs, the price of toluene rebounded after falling last week. On November 4, the price was 7400 RMB/ ton, and on November 11, the price was 7,410 RMB/ ton, up 0.14%. The price of mixed xylene rebounded slightly after falling last week. On November 4, the price was 8,060 RMB/ ton, and on November 4, the price was 8,040 RMB/ ton, down 0.25%. In terms of PX market, the price trend of last week was temporarily stable. As of the weekend, the domestic ex factory price of paraxylene was 8,600 RMB/ ton, which was unchanged from the price of 8,600 RMB/ ton at the beginning of the week.



  SunSirs energy analysts believe that the international crude oil price fell in shock last week, and the cost support of the naphtha market is limited; The terminal ethylene and reforming are lack of obvious advantages, mainly based on demand procurement, active refinery shipment, mainly wait-and-see business, and cautious transaction. At the weekend, terminal ethylene and reforming just need replenishment, and the price of locally refined naphtha is pushing up. It is expected that the price of China local refined naphtha will rise slightly in the near future.


 
 
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