The relevant information this week is as follows:
1. Raw material
Crude oil: Compared to the previous statistical period, the average international crude oil price remained almost unchanged during this period, with Brent crude oil averaging $95.17 per barrel. Last week, oil prices plummeted due to news of an impending US-Iran agreement, and this week international oil prices have fluctuated at relatively low levels—even after the US launched another airstrike on Iranian territory on the 6th, and Iran retaliated with missile attacks on nearby US military bases. Currently, international oil prices seem insensitive to such news, and traders increasingly believe the probability of a renewed conflict is low.
2. Production capacity
Among the major refineries nationwide, Maoming and Dalian have suspended production, and the remaining refineries are operating normally.
|
Period |
Factory |
Status |
|
20260529-0604 |
Daqing Pec |
Normal |
|
20260529-0604 |
Daqing Ref & Che |
|
|
20260529-0604 |
Dalian Pec |
Closed and Relocating |
|
20260529-0604 |
Fushun Pec |
Normal |
|
20260529-0604 |
Lanzhou Pec |
Normal |
|
20260529-0604 |
Jingmen Pec |
Normal |
|
20260529-0604 |
Gaoqiao Pec |
Normal |
|
20260529-0604 |
Maoming Pec |
Suspended |
|
20260529-0604 |
Jinan Ref & Che |
Normal |
|
20260529-0604 |
Nanyang Pec |
Normal |
|
20260529-0604 |
Panjing Beiran |
Normal |
3. Stock
National inventory remained at 28,000 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 saw another significant drop, decreasing by approximately 400 yuan/ton. Therefore, although it is currently the off-season, market acceptance of current prices is high, and national inventory has not increased substantially. Sinopec’s fully refined paraffin wax currently holds a clear price advantage, and PetroChina may follow suit by adjusting prices to maintain market balance.
6. Price expectations
Next week, paraffin wax prices are expected to remain stable, but PetroChina may lower its list prices, especially for fully refined grades.