Outlook this week refinery inventory high merchants buy limited
- May 28, 2018 -

Raw material influence: for the trend of oil price in the aftermarket, it is prudent and pessimistic, and tends to go down, while U.S. crude oil looks to 70 usd/barrel.Combined with uncertain future production cuts expected to boost production, prices are likely to start falling.

Supply side influence: at present domestic paraffin market supply is sufficient, refinery shipment is general.On the installation side, takahashi petrochemical may start operating normally this week.

Demand side effect: current paraffin market demand has not improved.Domestic terminal demand continues to be weak, crude wax market demand is not good.

The influence of market psychology: the current market people, under the psychological support of buying up or not buying down, buy less, pay more attention to the change of refinery policy in June.On the whole, people in the market are more of a wait-and-see mentality.

point of view: the current paraffin market trading atmosphere is light, refinery inventory is high, sales pressure still exists.The merchant takes the goods the state of mind is cautious, wait and see the mood is strong.The current market opening rate is still insufficient and the market demand is difficult to improve.it expects that the price of paraffin wax listing this week may be reduced sporadically.