According to the commodity market analysis system of SunSirs, as of May 31st, the average price of mineral oil in the market was 8,366 RMB/ton, and on May 1st, the average price of mineral oil in the market was 8,500 RMB/ton, a decrease of 1.57% from the beginning of last month.

At the beginning of May, the downward trend of cost side crude oil has had a certain impact on the market. The weakening of geopolitical support and bearish pressure on the demand side are the main reasons.

On the supply side, the upstream refinery Aoxing underwent maintenance, and Dalian Petrochemical started construction in late May. On the demand side, May has entered the traditional off-season, with downstream rigid demand procurement being the main focus. Small fluctuations in the supply side have a relatively small impact on the current market, and the trend of oversupply has not changed. Light mineral oil manufacturers have made continuous price reductions and adjustments to individual models this week.

It is expected that the market trend will be stable, moderate, and weak this month, with slight adjustments. Pay attention to the impact of cost side price trends.

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