Outlook for this week: cautious trading volume.
The impact of raw materials: in the context of geopolitical concerns and high oil prices, the unilateral strength of the dollar is expected to push the oil price short.However, tight supply and demand in the oil market, improved seasonal demand, and geopolitical risks will limit the short-term pullback space.U.S. crude oil is expected to seek a foothold in the $70 mark, with oil prices generally trading at highs of $70 to $72.
Supply side effect: the current paraffin market resources are sufficient, refinery inventory keeps high.According to the understanding, the refinery is normal volume, the paraffin market supply is sufficient, inventory pressure remains.
Demand side effect: current downstream operating rate is insufficient, terminal demand is not good.Add in the domestic demand slack season, the export market also demand flat, overall, the recent paraffin market demand is general.
The market mentality influences: the current wax market tends to downward trend, the merchants buy up not to buy the psychological obvious, the goods are still cautious to wait and see.