The relevant information this week is as follows:
1. Raw material
Crude oil: Compared with the previous statistical cycle, the international crude oil price in this statistical cycle rose slightly by about US$1, and the average price of Brent crude oil in the cycle was US$69.11 per barrel. The fluctuation of oil prices this week was mainly affected by two aspects: 1) The US President’s tariff war against various countries once again caused fluctuations in the crude oil market, but its impact was limited from the perspective of market performance; 2) The arrival of the peak season for crude oil demand – the International Energy Agency said that the production capacity of major global refineries has reached its peak to meet travel and power generation needs.
Overall, crude oil prices have a short-term upward trend, especially next week the US President may announce further sanctions against
Russia.
2. Production capacity
Among the major production refineries in the country, Maoming, Dalian and Jinan Petrochemical have stopped production, Lanzhou is producing intermittently, and the rest of the refineries are operating normally.
|
Period |
Factory |
Status |
|
20250707-0713 |
Daqing Pec |
Normal |
|
20250707-0713 |
Daqing Ref
& Che |
|
|
20250707-0713 |
Dalian Pec |
Closed and
Relocating |
|
20250707-0713 |
Fushun Pec |
Normal |
|
20250707-0713 |
Lanzhou Pec |
Intermittent |
|
20250707-0713 |
Jingmen Pec |
Normal |
|
20250707-0713 |
Gaoqiao Pec |
Normal |
|
20250707-0713 |
Maoming Pec |
Suspended |
|
20250707-0713 |
Jinan Ref
& Che |
Suspended |
|
20250707-0713 |
Nanyang Pec |
Normal |
|
20250707-0713 |
Panjing Beiran |
Normal |
3. Stock
The market was booming this week, with both end users and dealers purchasing aggressively, resulting in some models being in short supply. Currently, national inventories have dropped to 9,000 tons.
4. Market demand
The paraffin wax market has entered an upward cycle, and downstream companies are actively purchasing.
5. Industry analysis overview
On Monday and Tuesday this week, PetroChina and Sinopec raised the listing prices of their paraffin products for the sixth consecutive week, and most popular models are in short supply. Fushun Refinery, which has the largest paraffin output among refineries in China, will start a two-month shutdown and maintenance on August 15, 10 days earlier than previously announced, which has increased the enthusiasm of all parties to purchase popular models.
6. Price expectations
Currently, the listing price of paraffin wax has been rising steadily after six rounds of increases, but the transaction price of popular models may increase.