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Paraffin Wax: Trading Flat State Of Mind Stability

The current mainstream model 58# semi-average price is 7153.75 yuan/ton, up 0.79% from last week and down 2.75% from last year.

Effect: raw material prices at present levels, trump asked production comments will continue to put pressure on the market, the market will begin to observe OPEC increase rate, geopolitical risks has yet to continue to intensify, downward pressure on oil prices.But higher demand in North America will provide some support for oil prices. This week, the price of crude oil as a whole has been stable, ranging from $73 to $75 per barrel, supporting the stable mood of the paraffin market.

Supply side effect: the refinery plant is running normally at present, and the domestic paraffin inventory is slowly declining, but the overall level remains high.

Demand side effect: domestic market demand remains weak and stable. At the beginning of the month, we mainly need goods just now.In terms of the international market, the export market may improve and the market demand will increase slightly.

Market mentality influence: at present, the price of paraffin wax in various refineries has been raised, increasing the mentality of merchants to buy up rather than down.Considering that domestic demand is still in the low season, the merchants are still cautious about taking goods.

 point of view: at present, the paraffin market is stable and needs to be supported.Considering that domestic demand is still in the low season, the market needs no support at last, and market trading is still cautious.Zhuo chuang estimates that this week paraffin market listing price stability.


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