[Beite Chemical] Overview of paraffin market situation in 2019

According to Zhuochuang Information: Domestic paraffin production has remained between 1.3 million and 1.42 million tons in the past five years, which is mainly affected by the construction of refineries. Overall, the paraffin market supply remains stable. At present, with the increase in resources of domestic private enterprises and the obvious price advantages of alternative products, the positive support of the paraffin market is limited, and the road ahead is still difficult.

Domestic refineries have sufficient supply in 2019. Affected by increased production capacity and less maintenance, domestic output increased by 7.3% year-on-year. Among them, the output of PetroChina refineries was 1.124 million tons, a decrease of 16,000 tons year-on-year. Sinopec The year-on-year output of refineries was 320,000 tons, an increase of 40,000 tons, and the output of private enterprises was around 80,000 tons.

The paraffin market supply is stable and PetroChina accounts for 73.8% of domestic production</strong