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 plummeted by approximately $10 per barrel during this period, with Brent crude oil averaging $95.05 per barrel. Crude oil futures prices fell to their lowest level since mid-April, as the US and Iran appeared poised to reach a preliminary agreement, including the reopening of the Strait of Hormuz. However, given Trump’s past “manipulation” of oil prices, everything remains uncertain until a peace agreement is formally signed.
2. Production capacity
Among the major refineries nationwide, Maoming and Dalian have suspended production, and the remaining refineries are operating normally.
|
Period |
Factory |
Status |
|
20260522-0528 |
Daqing Pec |
Normal |
|
20260522-0528 |
Daqing Ref & Che |
|
|
20260522-0528 |
Dalian Pec |
Closed and Relocating |
|
20260522-0528 |
Fushun Pec |
Normal |
|
20260522-0528 |
Lanzhou Pec |
Normal |
|
20260522-0528 |
Jingmen Pec |
Normal |
|
20260522-0528 |
Gaoqiao Pec |
Normal |
|
20260522-0528 |
Maoming Pec |
Suspended |
|
20260522-0528 |
Jinan Ref & Che |
Normal |
|
20260522-0528 |
Nanyang Pec |
Normal |
|
20260522-0528 |
Panjing Beiran |
Normal |
3. Stock
National inventory remained at 27,000 tons. Driven by exports, the domestic paraffin wax market showed some recovery.
4. Market demand
Currently, it is the traditional off-season, while with paraffin wax prices moderate, demand is increasing.
5. Industry analysis overview
This week, paraffin wax prices remained largely stable. Sinopec’s Jingmen refinery flexibly raised prices by 100 yuan/ton for 52#
fully refined paraffin wax; Gaoqiao refinery raised prices by 50 yuan/ton for 62#, 64#, and 66# fully refined paraffin wax. This situation clearly indicates a significant market recovery.
However, it is worth noting that compared to PetroChina, Sinopec currently has a clear price advantage for fully refined paraffin wax.
PetroChina may follow suit and adjust its prices to maintain market balance.
6. Price expectations
Next week, paraffin wax prices are expected to remain stable, but PetroChina is likely to lower its list prices, especially for fully refined grades.