Wax in the second quarter cautious maintenance of the third quarter or a small increase
At present, the market is rising slightly, and the supporting points of the market are as follows: first, there are different trading and investment in the market at present. The two products of daqing are delivered smoothly.Moreover, the export market has improved due to the need to support the European and American markets. In addition, the recent devaluation of the RMB has increased the export profit margin, or eased the domestic supply and demand contradiction.
On the crude side, oil prices continue to rise slightly, and WTI broke the $75 barrier in the day to hit a 14-year high in November.Overall market conditions this week have continued to be weighed down by Saudi Arabia's ambiguous attitude to increasing production and U.S. sanctions against Iran. Oil prices have continued to rise, and expectations of a decline in U.S. inventories and production have been good, helping to prop up prices.But starting in July, the market began to focus on OPEC's specific increase in output. The mood was calm, the pressure above the oil price increased significantly, the increase was limited, and the resistance level was difficult to break through.Although crude oil has a certain lag effect on the market of paraffin wax, the recent upward trend of oil price has a certain impact on the cost of paraffin wax, which supports a small increase in the market price of paraffin wax.
In the short term, the downstream market demand for paraffin wax is difficult to improve, but the market resources are expected to decrease due to the maintenance plan of the refinery.With the advent of the third quarter, domestic demand remained flat in July and August due to the impact of the weather's heat transfer, but the export market may improve.With the arrival of domestic demand peak season in September, the market trading atmosphere will be increasingly strong.