International crude oil prices rose again after falling this week, which led to higher wait-and-see attitude towards the base oil market in the downstream.
The overall production of domestic refineries is sluggish, supply is tightening, and manufacturers are boosting morale. At the beginning of this week, they have increased by 100-200 yuan / ton.
Xintai Refinery rose 100 yuan / ton;
Fangyu Refinery rose by 100 yuan / ton;
Nanjing refinery rose 150 yuan / ton;
Huizhou refinery rose by 100-200 yuan / ton.
In terms of imported base oils, this week Formosa Plastics increased slightly by RMB 50 / ton for 150N and Formosa Plastics increased by RMB 100 / ton for 500N.
The market price is now at a high level, and more downstream stocks are available. At present, most of the terminals are watching the market, mainly consuming inventory and purchasing on demand. Market volume has cooled slightly. As a result, the market's growth rate is limited, and the base oil market will continue to stabilize shipments in the short term, narrowing its growth rate.