Negative factors are strong, and biodiesel is deeply involved.
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Crude oil futures prices have fallen, and oil market downward pressure has increased
In the near stage, OPEC failed to reach an agreement on the upper limit of oil production, and the warm winter phenomenon affected market demand, which aggravated market pessimism. Oil prices fell and fell again, and fell to a seven-year low. Therefore, since the current round of pricing cycle, the negative rate of crude oil change rate has widened, and the retail price of refined oil products has once again ushered in downward adjustment. The diesel prices of the main units and local refining manufacturers have been under pressure, and the news is negative for the domestic biodiesel market.
Demand further shrinks, users enter the market and turn down
At present, biodiesel is reconciling diesel in its largest application area in China, followed by chemical plasticizer DOP replacement. However, in winter, biodiesel is difficult to meet the needs of cold regions due to the high freezing point. Therefore, most of the blending oil manufacturers in the north have stopped purchasing biodiesel, and the market demand for chemical plasticizer DOP is extremely limited, leading to most of the north. Biodiesel manufacturers are in a state of downtime or semi-stopping, and the shipments of a few start-up manufacturers have also experienced different degrees of decline.
Raw material prices remain high, biodiesel is on the verge of loss
The price of biodiesel raw materials - waste oil and vegetable oil continues to be high. The price of downstream blending diesel and chemical products DOP is continuing to decline. The profit of biodiesel is gradually reduced. Most enterprises have been on the verge of profit downside. Some manufacturers have lowered the low price of circulating and shipping prices for maintaining old customers or guaranteeing funds. A small number of decompression warehouses have faced the situation of losing money and shipping.
Alternative prices continue to fall, biodiesel pressure
However, in the near term, under the continuous pressure of negative factors, the prices of other diesel-changing materials such as Changchai, diesel, and non-standard diesel have also declined to varying degrees. At present, the price of non-standard diesel and diesel in China is lower than that of biodiesel. In the face of the decline in the price of other blended diesel raw materials, biodiesel manufacturers are under pressure. To avoid risks, it is difficult to maintain downtime or reduce production.
From the market outlook, the international crude oil futures price is still in the downside, the retail price of this round of refined oil will once again ushered in downward adjustment, and in the short-term, the demand side will further shrink, and the downstream users' purchase volume will be further reduced. Under the negative factors, the weak situation in the domestic biodiesel market is difficult to reverse, and the resistance of manufacturers will increase, and the market price will continue to fall.