The relevant information this week is as follows:
1. Raw material
Crude oil: Compared with the previous statistical cycle, the international crude oil price rose by 0.5 US dollars per barrel in this statistical cycle, and the average price of Brent crude oil in the cycle was 73.59 US dollars per barrel. However, since Trump
announced the so-called “reciprocal tariffs”, the international oil price has suddenly dropped by nearly 10 US dollars per barrel, and WTI crude oil has even fallen to 60 US dollars per barrel. Various analysis agencies are worried about the systemic risks caused by Trump’s global tariff war, and the prospects of the international crude oil market are worrying.
2. Production capacity
Among the major production refineries in China, Maoming and Dalian Petrochemical has stopped production, Gaoqiao gradually stops production as planned, and the rest of the refineries are operating normally.
|
Period |
Factory |
Status |
|
20250328-0403 |
Daqing Pec |
Normal |
|
20250328-0403 |
Daqing Ref & Che |
|
|
20250328-0403 |
Dalian Pec |
Closed and Relocating |
|
20250328-0403 |
Fushun Pec |
Normal |
|
20250328-0403 |
Lanzhou Pec |
Normal |
|
20250328-0403 |
Jingmen Pec |
Normal |
|
20250328-0403 |
Gaoqiao Pec |
Reducing production |
|
20250328-0403 |
Maoming Pec |
Suspended |
|
20250328-0403 |
Jinan Ref & Che |
Suspended |
|
20250328-0403 |
Nanyang Pec |
Normal |
|
20250328-0403 |
Panjing Beiran |
Normal |
3. Stock
The purchasing market was quiet this week, and the national inventory has increased to 25,000 tons.
4. Market demand
Downstream companies purchased less this week and the market was sluggish.
5. Industry analysis overview
Due to the Qingming Festival this week, Sinopec did not adjust the listing price. However, according to news from Sinopec’s contracted
traders, the price of its paraffin products has been reduced by 200-300 yuan/ton this Friday, and will be released in time next Monday. However, the sales of PetroChina’s paraffin, which has already completed the price reduction last week, are still dismal. All parties are bearish, and the paraffin market will enter a downward cycle.
6. Price expectations
The paraffin market has officially entered a downward cycle, and there is a high possibility of a flexible decline.