Sinopec and Sinopec Group Naphtha Ex-factory Price Reduction

Solvent oil is expected to stabilize in September

The reporter learned yesterday from the personages of the two major oil refining companies that the official documents of the two major corporations are currently issued. PetroChina's ex-factory price for naphtha in September was adjusted from current 6361 yuan/ton to 6,322 yuan/ton, down by 39 yuan/ton. In September, the ex-factory price of naphtha of Sinopec will be reduced by 150 yuan, that is, from 7,240 yuan/ton in August to 7,090 yuan/ton; the ex-factory price for eastern chemical companies in Tahe Branch will be adjusted from 6,440 yuan/ton to 6,290 yuan/ton. . Affected by this, the solvent oil market in September will show a steady decline.

According to Qingjiang Petrochemical refinery sources, the Sinopec naphtha price reduction has little effect on the 200# solvent oil price. It is estimated that the price volatility in September is not significant, because in August it has reduced 100 to 200 yuan, and the price has basically bottomed out. As of August 30, the mainstream offer of 200# solvent oil in East China was between 9,000 and 9300 yuan/ton. The person added that there may be a decline in 6# and 120# solvent oil, but there is limited room for downward adjustment.

North China refinery sources said that the reduction in naphtha between the two major groups is relatively small and has little impact on the solvent oil market. Local refinery sources said that the downgrade of Sinopec naphtha will affect the price of mineral spirits. It is expected that the price will follow the downward trend in September, but there is limited room for downward adjustment.

According to western refineries, the ex-factory price of China National Petroleum Corporation naphtha is reduced by a small margin, which has little impact on the solvent oil market in September. However, with the arrival of the downstream demand season for 6#, demand for 6# solvent oil will gradually improve.

According to analysis and analysis by professionals, it is expected that the market will see a steady decline in solvent oil in September. Judging from the magnitude of the downward adjustment of the two major groups, Sinopec naphtha will be reduced by a large margin. It is estimated that the solvent oil of Sinopec's refineries will likely decline by 150-200 yuan. The refinery of PetroChina refinery is relatively concentrated because of refinery overhaul. It is estimated that the reduction will not be significant.