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 $8 per barrel during this period, with Brent crude oil averaging $79.63 per barrel. The situation in the Middle East has far exceeded expectations, especially with Iran announcing the blockade of the Strait of Hormuz, a waterway that directly controls nearly one-fifth of global crude oil trade, approximately 20-21 million barrels per day. Currently, the highest price for Brent crude oil has reached $94.64 per barrel, and many investment institutions predict it could exceed $100 per barrel.
2. Production capacity
Among the major refineries in the country, Maoming and Dalian have stopped production, and the rest of the refineries are operating normally.
|
Period |
Factory |
Status |
|
20260227-0305 |
Daqing Pec |
Normal |
|
20260227-0305 |
Daqing Ref & Che |
|
|
20260227-0305 |
Dalian Pec |
Closed and Relocating |
|
20260227-0305 |
Fushun Pec |
Normal |
|
20260227-0305 |
Lanzhou Pec |
Normal |
|
20260227-0305 |
Jingmen Pec |
Normal |
|
20260227-0305 |
Gaoqiao Pec |
Normal |
|
20260227-0305 |
Maoming Pec |
Suspended |
|
20260227-0305 |
Jinan Ref & Che |
Normal |
|
20260227-0305 |
Nanyang Pec |
Normal |
|
20260227-0305 |
Panjing Beiran |
Normal |
3. Stock
Currently, national inventory is approximately 0.9 million tons, and paraffin wax molding capacity has returned to normal.
4. Market demand
End-user demand was strong this week, with markets across various regions experiencing robust activity.
5. Industry analysis overview
Due to the impact of the Middle East situation, end-users generally anticipate that paraffin wax prices will rise along with crude oil
prices, resulting in a very active paraffin wax market this week. Furthermore, Sinopec and PetroChina raised their list prices for paraffin wax twice this week, undoubtedly reinforcing the market’s upward trend. Currently, profit margins for traders in various regions have increased from 50 yuan/ton to 100 yuan/ton, or even more.
6. Price expectations
Paraffin wax prices are expected to rise in the coming weeks. Currently, paraffin wax prices remain low, and there may be a further increase of 400 yuan/ton before May 1st.