The relevant information this week is as follows:
1. Raw material
Crude oil: Compared to the previous statistical period, international crude oil prices continued to fall by approximately $1.50 per barrel this statistical period, with the cyclical average price of Brent crude oil at $66.36 per barrel. This week’s international oil price movements were primarily influenced by the bearish supply forecast released by the International Energy Agency (IEA). The IEA warned that global oil supply appears to be “oversupplied,” especially after OPEC+ steadily increased production this year. The U.S. Energy Information Administration (EIA) reported a 3 million barrel increase in inventories last week, far exceeding market expectations for a 900,000 barrel decrease, further exacerbating bearish sentiment on oil.
Geopolitically, traders are closely watching the progress of the summit between U.S. President Trump and Russian leader Vladimir Putin in Alaska, which could lead to the United States easing sanctions on Moscow due to the Russia-Ukraine conflict.
Overall, crude oil prices are currently facing significant downward pressure, particularly if Ukraine is invited to participate in trilateral talks between the United States, Russia, and Ukraine.
2. Production capacity
Among the major production refineries in the country, Maoming and Dalian have stopped production, Lanzhou is producing intermittently, and the rest of the refineries are operating normally.
|
Period |
Factory |
Status |
|
20250808-0814 |
Daqing Pec |
Normal |
|
20250808-0814 |
Daqing Ref & Che |
|
|
20250808-0814 |
Dalian Pec |
Closed and Relocating |
|
20250808-0814 |
Fushun Pec |
Normal |
|
20250808-0814 |
Lanzhou Pec |
Intermittent |
|
20250808-0814 |
Jingmen Pec |
Normal |
|
20250808-0814 |
Gaoqiao Pec |
Normal |
|
20250808-0814 |
Maoming Pec |
Suspended |
|
20250808-0814 |
Jinan Ref & Che |
Normal |
|
20250808-0814 |
Nanyang Pec |
Normal |
|
20250808-0814 |
Panjing Beiran |
Normal |
3. Stock
The market was relatively quiet this week, with traders and manufacturers adopting a wait-and-see attitude. National inventories have risen to 13,000 tons.
4. Market demand
Paraffin wax market demand is declining, prompting a wait-and-see approach.
5. Industry analysis overview
Paraffin wax prices remained unchanged this week, prompting a wait-and-see approach. The Fushun refinery will shut down for two months of maintenance next week, and the market will take one to two weeks to react.
6. Price expectations
Currently, paraffin wax prices are generally stable. The market for semi-refined paraffin wax is sluggish; the market for fully refined paraffin wax will remain stable due to the shutdown of the Fushun refinery, especially the medium and high melting point paraffin wax types.