The relevant information this week is as follows:
1. Raw material
Crude oil: Compared to the previous statistical period, the average price of international crude oil surged by approximately $13 per barrel this period, with Brent crude oil averaging $111.37 per barrel. The renewed tensions between the US and Iran following Iran’s attack on US warships, coupled with market concerns about continued disruptions to oil exports from the Gulf region, directly led to this week’s surge in crude oil prices. Currently, the price of international crude oil is hovering around $110 per barrel, far exceeding the previously anticipated $100 per barrel.
2. Production capacity
Among the major refineries nationwide, Maoming and Dalian have suspended production, Lanzhou is producing intermittently, and the remaining refineries are operating normally.
Period | Factory | Status |
20260424-0430 | Daqing Pec | Normal |
20260424-0430 | Daqing Ref & Che | Normal |
20260424-0430 | Dalian Pec | Closed and Relocating |
20260424-0430 | Fushun Pec | Normal |
20260424-0430 | Lanzhou Pec | Intermittently |
20260424-0430 | Jingmen Pec | Normal |
20260424-0430 | Gaoqiao Pec | Normal |
20260424-0430 | Maoming Pec | Suspended |
20260424-0430 | Jinan Ref & Che | Normal |
20260424-0430 | Nanyang Pec | Normal |
20260424-0430 | Panjing Beiran | Normal |
3. Stock
Currently, national inventory is approximately 15,500 tons, and the market is sluggish.
4. Market demand
It is currently the traditional off-season for the market, and with paraffin wax prices currently high, demand is extremely low.
5. Industry analysis overview
This week, PetroChina proactively lowered the list price of its paraffin wax products by 350-500 yuan/ton, planning to implement it after the May Day holiday. Sinopec has not yet announced a price reduction plan, but given the current market situation, it is highly likely that Sinopec will also lower the list price of its paraffin wax products.
6. Price expectations
A price reduction for paraffin wax is highly probable next week. PetroChina has already clearly lowered its list price by 350-500 yuan/ton, and Sinopec is expected to follow suit, with a reduction of approximately 200-350 yuan/ton.