SunSirs: Market Benefits are Difficult to Sustain, China Mineral Oil Prices are Weak and Consolidating
March 26 2024 10:51:54 SunSirs (Selena)
According to the commodity market analysis system of SunSirs, as of March 22, the average price of mineral oil in the market was 8,416 RMB/ton, and on March 18, the average price of mineral oil in the market was 8,316 RMB/ton, a decrease of 0.59% from last week.
In terms of cost: Last week, international oil prices rose first and then fell, making it difficult to sustain the positive news.
In terms of supply and demand, some manufacturers lowered their prices last week. Downstream stocking inventory has not been digested yet, and downstream market demand is recovering slowly. The market pattern of oversupply has not changed.
Due to the slow recovery of demand, the market's oversupply pattern has not improved, and the market is facing slight downward pressure in the short term.
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- 2024-04-29 SunSirs: Mineral Oil Market Prices steadily Increased in China in April
- 2024-04-22 SunSirs: Strong Cost Support, Leading to an Increase in China Mineral Oil Market
- 2024-04-15 SunSirs: International Crude Oil Prices Rose, while China Mineral oil Prices Fluctuated and Strengthened
- 2024-04-07 SunSirs: Regular Replenishment before Qingming Festival, China mineral oil market was Stable
- 2024-04-01 SunSirs: China Mineral oil Market Fluctuated and Fell in March
