According to the commodity market analysis system of SunSirs, as of May 11th, the average price of mineral oil in the market was 8,500 RMB/ton, and on May 4th, the average price of mineral oil in the market was 8,500 RMB/ton, which remained stable after price fluctuations.

The downward trend of holiday crude oil has a certain impact on the market. The weakening of geopolitical support and bearish pressure on the demand side are the main reasons. The decline in crude oil prices is the main reason for the price correction.

In terms of supply and demand: On the supply side, the production of the equipment is basically stable, and it is estimated that the market supply will slightly decrease compared to April. In early May, there was a slight increase in prices, but recently there has been a correction, and the market has remained relatively stable. Light mineral oil manufacturers have maintained stable prices this week without any adjustments. May is the off-season for consumption, and it is expected that downstream procurement and stocking willingness will be weak.

Based on the current supply and demand relationship and fundamentals of the market, the downstream market mainly focuses on low-priced essential procurement. In terms of upstream refineries, cost support is evident, and the trend of mineral oil prices is mainly influenced by the cost side. It is expected that the price trend will fluctuate slightly in May, and the downward range of prices will be limited.

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