How does the coal tar feedstock market influence naphthalene price trends?

How does the coal tar feedstock market influence naphthalene price trends?
High-temperature coal tar, the primary feedstock for industrial naphthalene, has been oscillating in a range of 3,290-3,930 yuan/ton recently. Market conditions are mixed: when coking plants operate at high rates and supply is ample, tar prices weaken, as seen in mid-May when social inventories accumulated and downstream buyers adopted a cautious, just-in-time purchasing stance. Conversely, when safety inspections accelerate inventory drawdowns and deep-processing plants need to restock, tar prices firm. Coal tar pitch, a co-product, trades at 4,450-5,300 yuan/ton and often sets the tone for the whole deep-processing chain. Since tar accounts for the bulk of naphthalene production costs, any sustained move in tar prices directly translates into naphthalene pricing power.