According to the Commodity Analysis System of Business Society, the market for locally refined hydrogenated naphtha has continued to rise recently. As of January 29th, the mainstream ex factory price of domestically refined hydrogenated naphtha was 8079.00 yuan/ton, an increase of 1.76% from January 22nd at 7939.00 yuan/ton. The actual transaction price of locally refined hydrogenated naphtha is around 8000-8100 yuan/ton.

Recently, the market for locally refined straight run naphtha has continued to rise. As of January 29th, the mainstream ex factory price of domestically refined straight run naphtha was 7989.00 yuan/ton, an increase of 1.75% from January 22nd at 7854.50 yuan/ton. The actual transaction price of locally refined straight run naphtha is around 7900-8000 yuan/ton.

In recent times, the demand for local refining terminals has been strong, and refineries have actively pushed up prices, resulting in good transactions; At present, the overall weakness of the gasoline and diesel market has limited support for the naphtha market.

Upstream: The international crude oil market has recently risen, and the International Energy Agency predicts that global demand will increase. Coupled with the low levels of commercial crude oil inventories in the United States, international crude oil futures prices will rebound.

Downstream: According to the monitoring of Business Society, the market for toluene and mixed xylene continues to rise. Currently, international crude oil prices fluctuate widely, with cost support. Downstream demand support is weak in the off-season, and toluene port inventories have increased and production has slightly increased. Pressure on the supply side of toluene remains. The PX price trend is stable, and the domestic PX operating rate remains above 80%. Downstream support for the naphtha market.

Market forecast: The international crude oil market is fluctuating and rising, with cost support in the naphtha market; The local refined naphtha market is expected to continue to rise in the near future, as refineries are actively driving up demand for ethylene and reforming at the local refined naphtha terminal.