Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The supply and demand in the base oil industry remain stable, with slight adjustments in tail oil prices. The demand is generally moderate, and imported base oils are stabilizing. Rising crude oil prices are stimulating downstream purchases [7][11][65] - The theoretical profit for hydrogenated base oil this week is 356 CNY/ton, a decrease of 10.55% compared to the previous week [13][19] - The production capacity utilization rate for domestic II-type paraffinic base oil is currently at 50% [22][24] Summary by Sections 1. Industry Chain Product Fluctuation Analysis - The price fluctuations of lubricating oil base oil products show a range of -1.6% to 0.3% this week, with waste mineral oil and base oil 150N experiencing declines of -1.6% and -0.3% respectively [16] - The theoretical profit for hydrogenated base oil has decreased by 10.55% week-on-week [19] 2. Base Oil Market Weekly Overview - The international base oil market shows mixed price trends, with some categories experiencing price increases while others remain stable or decline [25][26] - The domestic market for 150N base oil is reported at 7712 CNY/ton, a decrease of 0.48% [35] 3. Base Oil Cost and Profit Changes - The production cost for hydrogenated base oil is 7356 CNY/ton, with a slight increase of 0.09% week-on-week. The profit margin has decreased significantly [35] 4. Base Oil Supply and Demand Situation - The domestic II-type paraffinic base oil production has increased by 4% due to the resumption of operations at high-bridge petrochemical [40] - The inventory level for II-type paraffinic base oil remains low at approximately 35,000 tons, indicating a balanced supply-demand situation [54] 5. Base Oil and Downstream Inventory Situation - The average inventory ratio for lubricating oil production enterprises is 25%, indicating a slight decrease from the previous week [58] 6. Related Products - The international crude oil prices have shown an upward trend, with WTI at 62.85 USD/barrel and Brent at 64.86 USD/barrel, reflecting geopolitical tensions and seasonal demand [61] 7. Trend Forecast - The market sentiment survey indicates that 25% of participants expect prices to rise, 65% expect stability, and 10% expect a decline in the coming week [66]

摘要：【图】2025年1-3月陕西省石油沥青产量数据分析 2025年3月石油沥青产量分析： 单独看2025年3月份，陕西省规模以上工业企业石油沥青产量达到了1.2万吨，与2024年同期的数据相 比，3月份的产量下降了1.7%，增速较2024年同期高22.8个百分点，增速较同期全国低9.4个百分点，约 占同期全国规模以上企业石油沥青产量305.6万吨的比重为0.4%。 图表：陕西省石油沥青产量分月（当月值）统计 2025年1-3月石油沥青产量分析： 据国家统计局数据，在2025年的前3个月，陕西省规模以上工业企业石油沥青产量累计达到了3.9万吨， 与2024年同期的数据相比，下降了9.9%，增速较2024年同期低6.2个百分点，增速较同期全国低12.6个 百分点，约占同期全国规模以上企业石油沥青产量825.4万吨的比重为0.5%。 图表：陕西省石油沥青产量分月（累计值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油发展现状及前景预测 化工市场调研及发展趋势 日化行业监测及发展趋势 润滑油未来发展趋 ...

Group 1: Industry Overview - The petroleum and chemical indices mostly rose last week, with the chemical raw materials index down by 0.98%, the chemical machinery index up by 0.83%, the chemical pharmaceuticals index up by 2.47%, and the pesticide and fertilizer index up by 0.71% [1] - In the petroleum sector, the petroleum processing index rose by 0.81%, the petroleum extraction index rose by 1.41%, while the petroleum trade index fell by 7.98% [1] - International crude oil prices experienced narrow fluctuations, with WTI settling at $60.79 per barrel, down 1.20% from May 23, and Brent settling at $63.90 per barrel, down 1.36% [1] Group 2: Market Performance - The top five performing listed chemical companies in the Shanghai and Shenzhen markets last week were Lianhua Technology up by 38.97%, Baismei up by 25.00%, Suqian Liansheng up by 16.80%, Qingdao Jinwang up by 18.23%, and Honghe Technology up by 17.09% [2] - The bottom five performing listed chemical companies were Guangju Energy down by 15.95%, Tianan New Materials down by 14.66%, Hongbaoli down by 13.10%, Annada down by 12.38%, and Heimao Co. down by 12.14% [2] Group 3: Product Price Changes - The top five rising petrochemical products included hydrochloric acid up by 35.42%, liquid chlorine up by 21.85%, glyphosate up by 6.15%, dichloromethane up by 4.36%, and paraquat up by 4.35% [1] - The top five declining petrochemical products included acrylic acid down by 9.74%, butadiene down by 9.60%, natural rubber down by 6.55%, styrene-butadiene rubber down by 6.13%, and aniline down by 5.95% [1]

以油箱容量50升的普通私家车计算，此次调价后，理论上，车主们空油箱加满92号汽油将多花2.5元。 | 品名规格 | 品质比率 | | 最高批发价 | 最高零 | | --- | --- | --- | --- | --- | | | | 送货 | 不送货 | 吨价 | | 89号汽油(VIB) | 100 | 8365 | 8305 | 8665 | | 92号汽油(VIB) | 106 | 8867 | 8803 | 9185 | | 95号汽油(VIB) | 112 | 9369 | 9302 | 9705 | | 0号柴油(VI) | 100 | 7365 | 7305 | 7665 | | -10号柴油(VI) | 106 | 7807 | 7743 | 8125 | | 5号柴油(VI) | 98 | 7218 | 7159 | 7512 | | 11 = = = SE = 163 - 16 1 = = = = = = = = = ( = ( ) = ( | | 4 | was works & fam & L. I.A. I Any L | | 极目新闻记者 袁超一 6月3日，湖北省发改委发布公告， ...

2025年3月石油沥青产量分析： 摘要：【图】2025年1-3月辽宁省石油沥青产量统计分析 2025年1-3月石油沥青产量分析： 据国家统计局数据，在2025年的前3个月，辽宁省规模以上工业企业石油沥青产量累计达到了70.3万 吨，与2024年同期的数据相比，增长了1.2%，增速较2024年同期高8.8个百分点，增速较同期全国低1.5 个百分点，约占同期全国规模以上企业石油沥青产量825.4万吨的比重为8.5%。 图表：辽宁省石油沥青产量分月（累计值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油行业监测及发展趋势 化工未来发展趋势预测 日化现状及发展前景 润滑油发展前景趋势分析 汽油的现状和发展趋势 柴油行业现状与发展趋势 橡胶市场现状及前景分析 塑料市场调研与发展前景 化妆品发展现状及前景预测清洁护肤市场调研及发展趋势 单独看2025年3月份，辽宁省规模以上工业企业石油沥青产量达到了27.0万吨，与2024年同期的数据相 比，3月份的产量增长了12.0%，增速较2024年同期高12.2个百分 ...

s 加賀期货 沥青早报 研究中心能化团队 2025/6/3 | | 指标 | 4/30 | 5/23 | 5/28 | 5/29 | 5/30 | 日度变化 | 間度変化 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | BU主力合约 | 3408 | 3516 | 3481 | 3514 | 3457 | -57 | -59 | | | BU06 | 3408 | 3532 | 3489 | 3507 | 3452 | -રેર | -80 | | | BU09 | 3351 | 3466 | 3443 | 3483 | 3414 | -୧୨ | -52 | | | BU12 | 3215 | 3286 | 3266 | 3308 | 3237 | -71 | -49 | | STET | BU03 | 3246 | 3241 | 3227 | 3266 | 3201 | -65 | -40 | | | 成交量 | 280344 | 281684 | 407985 | 510411 | 579926 | ୧૭૨ 1 ર | 29824 ...

Investment Rating - The industry investment rating is "Neutral" as the industry index is expected to be in line with the benchmark [134]. Core Viewpoints - The report indicates that the demand for inventory before the holiday is weak, leading to a decline in refining product prices [1]. - The Brent crude oil average price for the week ending May 30, 2025, was $64.47 per barrel, reflecting a decrease of 1.07% [1][2]. - Domestic refining project price differentials have increased, with a domestic key refining project price differential of 2492.60 CNY/ton, up by 2.04% week-on-week [1][2]. Summary by Sections Refining Sector - OPEC+ is discussing an increase in production for July, which is pressuring prices, while geopolitical tensions continue to create volatility in oil prices [1]. - As of May 30, 2025, Brent and WTI crude oil prices were $63.90 and $60.79 per barrel, respectively, showing a decline from the previous week [1][14]. - Domestic refined oil prices have slightly increased, while overseas refined oil prices have generally declined [1]. Chemical Sector - The chemical sector is experiencing weak cost support and supply-demand dynamics, leading to price declines across various products [1]. - Polyethylene and polypropylene prices have shown a downward trend, with average prices for LDPE, LLDPE, and HDPE at 9057.14, 7032.14, and 8014.29 CNY/ton, respectively [1][53]. - The market for EVA remains weak, with prices decreasing to an average of 11500.00 CNY/ton [1][65]. Polyester Sector - The PX price has slightly increased due to a rise in PTA demand, with the current PX CFR China main port average price at 6026.19 CNY/ton [1][86]. - MEG prices have decreased slightly, with the current average price at 4512.86 CNY/ton [1][89]. - The average price for PTA is currently 4909.29 CNY/ton, with an industry average profit margin of -132.88 CNY/ton [1][91]. Major Refining Companies - The stock performance of six major refining companies as of May 30, 2025, shows mixed results, with Rongsheng Petrochemical up by 0.11% and Dongfang Shenghong down by 4.82% over the past week [1][121]. - Over the past month, Rongsheng Petrochemical has increased by 5.98%, while Dongfang Shenghong has decreased by 2.75% [1][121].

Group 1 - In March 2025, the petroleum coke production in Hebei Province reached 73,000 tons, representing a year-on-year increase of 16.3% [1] - The growth rate in March 2025 was 21.6 percentage points higher than the same period last year, and 19.2 percentage points higher than the national average [1] - The production accounted for 2.7% of the national petroleum coke output of 2.741 million tons during the same period [1] Group 2 - From January to March 2025, the total petroleum coke production in Hebei Province was 223,000 tons, with a year-on-year growth of 24.2% [2] - The growth rate for this period was 30.0 percentage points higher than the previous year, and 28.8 percentage points higher than the national average [2] - This production represented 2.8% of the national petroleum coke output of 8.063 million tons for the same period [2]

Core Insights - Fushun's economy showed impressive performance in Q1, with GDP growth of 7.3%, ranking first in the province and achieving the best position in 10 years [1] - The city implemented 38 specific measures to support economic stability and growth, resulting in significant increases in various sectors [1][2] - The focus for the upcoming period includes project construction, industrial upgrades, and enhancing consumption [2][3] Economic Performance - Fushun's GDP increased by 7.3% year-on-year, with industrial added value rising by 12.1%, both ranking first in the province [1] - Fixed asset investment grew by 23%, ranking second in the province, with a notable increase in projects over 100 million [1] - The city saw a 31.1% increase in investment for projects over 100 million, with private investment and manufacturing investment growing by 48% and 63%, respectively [1] Future Goals - The city aims for a GDP growth of around 7% in the first half of the year, with industrial added value growth of 10% and fixed asset investment growth of 15% [2] - Specific targets include achieving a public budget revenue growth of 8% and retail sales growth of approximately 8.5% [2] - Key areas of focus include enhancing economic operations, expanding effective investment, and promoting industrial upgrades [2] Structural Adjustments - Fushun is prioritizing structural adjustments, emphasizing the digital transformation of traditional industries [3] - The city plans to implement 98 technological transformation projects with a total investment of 172.6 billion [3] - The development of the ice and snow economy is also a focus, leveraging the upcoming "15 Winter" events to boost related industries [3]

Group 1 - The State Intellectual Property Office of China shows that China Petroleum & Chemical Corporation and China Petrochemical Group Chongqing Chemical & Chemical Co., Ltd. have applied for a patent titled "Ethylene-Vinyl Acetate Copolymer Solution and Its Preparation Method and Application" with publication number CN120059023A, filed on November 2023 [1] - The patent involves the field of resins, detailing a method for preparing ethylene-vinyl acetate copolymer solution, which includes polymerizing vinyl acetate with ethylene in the presence of a first solvent and initiator, followed by mixing the product with a second solvent and a terminator [1] Group 2 - China Petroleum & Chemical Corporation, established in 2000 and located in Beijing, primarily engages in the petroleum, coal, and other fuel processing industries, with a registered capital of approximately 12.17 billion RMB [1] - The company has invested in 255 enterprises, participated in 5,000 bidding projects, holds 45 trademark records, 5,000 patent records, and possesses 39 administrative licenses [1] Group 3 - China Petrochemical Group Chongqing Chemical & Chemical Co., Ltd., founded in 1980 and based in Chongqing, focuses on the manufacturing of chemical raw materials and products, with a registered capital of approximately 731.13 million RMB [2] - The company has invested in 15 enterprises, participated in 4,917 bidding projects, holds 14 trademark records, 653 patent records, and possesses 703 administrative licenses [2]