According to the Commodity Market Analysis System of Business Society, as of May 17th, the average price of white oil in the market was 8483 yuan/ton, and on May 11th, the average price of white oil in the market was 8500 yuan/ton, a decrease of 0.2%.
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In terms of cost
This week’s break in crude oil prices has a guiding effect on the market, with a slight decline in the white oil market.
In terms of supply and demand
On the supply side, some upstream refineries underwent maintenance in May, resulting in a slight reduction in supply. Light white oil manufacturers have made adjustments to individual models this week. On the demand side, consumption entered the traditional off-season in May, and the transaction atmosphere was light. Downstream low-priced essential purchases were the main focus.
Future Market Forecast
At present, although the trading atmosphere in the market is average, the production costs of refineries are still high. The cost support is strong, and it is expected that the price trend of white oil market will be stable, moderate, and weak, with narrow price fluctuations.
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