The relevant information this week is as follows:
1. Raw material
Crude oil: During this statistical period, international crude oil prices rose by nearly $3, and Brent crude oil exceeded $80 again. It has to be admitted that the view of UAE Energy Minister Suhail Al Mazrouei on the plunge in oil prices last week seems to be correct – “Sometimes the market does not understand decisions and needs time to analyze.” At present, due to the traditional travel season in North America and energy demand under high temperatures, Brent crude oil is more likely to remain above $80. In addition, according to data from the International Monetary Fund (IMF), Saudi Arabia needs Brent oil prices to remain around $81 per barrel to balance its fiscal budget.
Natural gas: The demand for natural gas is gradually decreasing, and the JKM index is running at a low level.
2. Production capacity
Among the major refineries in the country, Maoming has stopped production, Dalian is resuming production, and the rest are operating normally.
|
Period |
Factory |
Status |
|
20240610—0616 |
Daqing Pec |
Normal |
|
20240610—0616 |
Daqing Ref & Che |
Normal |
|
20240610—0616 |
Dalian Pec |
Recovering |
|
20240610—0616 |
Fushun Pec |
Normal |
|
20240610—0616 |
Lanzhou Pec |
Normal |
|
20240610—0616 |
Jingmen Pec |
Normal |
|
20240610—0616 |
Gaoqiao Pec |
Normal |
|
20240610—0616 |
Maoming Pec |
Suspended |
|
20240610—0616 |
Jinan Ref & Che |
Normal |
|
20240610—0616 |
Nanyang Pec |
Normal |
|
20240610—0616 |
Panjing Beiran |
Normal |
3. Stock
Prices remained unchanged this week, as terminal buyers and some dealers began to take delivery, and domestic remaining inventory was reduced to around 18,000 tons.
4. Market demand
Downstream companies are getting goods on demand, and a small number of dealers are also starting to stock up on
goods, resulting in improved transaction volume.
5. Industry analysis overview
The price of paraffin wax remained unchanged this week. After more than a month of waiting and watching, in addition to enterprises taking goods on demand, a small number of dealers began to stock up. However, in order
to ensure sales, dealers raised prices less.
6. Price expectations
At present, there is still a large price difference between some models of Sinopec and PetroChina, which should be adjusted soon. This month, due to the low oil price and low demand, the price of paraffin is unlikely to rise.