Petrochemicals and petrochemicals may start a price war again. Traders have suspended replenishment
with the new pricing cycle approaching on July 27, the expectation of domestic refined oil price reduction is becoming stronger and stronger. The situation of national gasoline and diesel supply exceeding demand is also intensifying. As of the end of June, the domestic gasoline supply relationship has exceeded the balance of supply and demand by more than 1 million tons. According to the analysis of industry experts, under the current situation that traders are bearish and do not purchase goods and there are excess gasoline and diesel resources, the two main businesses are likely to launch another "price war" in the wholesale and retail links in the near future
according to the internal knowledge of PetroChina and Sinopec respectively, the sales strategies of the two main businesses in July have been fully prepared for the next stage of promotion
the expectation of price reduction is strong. Traders suspended replenishment.
according to Oriental Oil and gas statistics, as of the last working day of last week (July 17), the pricing period has passed 16 working days, and the crude oil prices in the three places have fallen below 6%. When the "window period" of price adjustment comes on July 27, it is a foregone conclusion that the crude oil change rate of the three places will reach -4%, that is to say, the domestic refined oil price can be adjusted accordingly. At present, the market generally believes that the state will reduce the price of refined oil at the end of July
under this expectation, the current performance of refined oil wholesale market is very flat. Huang Shunjing, editor in chief of China gas station, revealed that the current sales volume of main wholesale in the market continues to be weak, and the price is also running at a low level
"according to the previous law, the end of the month is the time for traders to replenish and purchase goods, and the sales volume of main wholesale will increase significantly." Huang Shunjing said that under the expectation of the current oil price reduction, "buy up or not buy down" the mentality of "buy up or not buy down electrohydraulic servo fatigue testing equipment hydraulic system scheme design considerations" made the trader kibasf also display a large number of replenishments on the durability material book
according to Zhong Jian, deputy general manager of Dongfang oil and gas, the strong expectation of price adjustment is changing the market atmosphere and price trend. "With the further deepening of the expectation of lowering oil prices, the two main units may take more promotional activities in the next 10 days or so, and the decline in domestic oil prices will further increase." Zhong Jian said
the serious oversupply stimulated the introduction of promotional policies
the current oversupply situation in the domestic market has increased the determination of the two giants to promote and digest inventory
according to Oriental Oil and gas statistics, at the end of June, the national gasoline supply and demand relationship showed a situation of oversupply, with a surplus of more than 1 million tons compared with the resources required when the supply and demand were balanced, and the gasoline inventory increased by about 50% compared with the relative equilibrium relationship in January 2008
"this situation of excess gasoline resources may force the retail price competition of gasoline to start again." Zhong Jian said
in terms of diesel, although the relationship between supply and demand basically presents a balanced situation, the consumption has declined rapidly. In June, it has fallen by about 4% compared with the previous two months. The pace of decline further accelerated in early July, with a month on month decline of about 10%
Zhong Jian believes that since direct selling and wholesale account for a considerable part of the diesel consumption structure, in order to ensure a certain sales volume, the two main businesses may further carry out price reduction competition in the diesel wholesale sector
the two giants are ready for a "price war"
the situation of the two giants fighting a price war at the end of last year may reappear. At that time, hit by the global financial crisis, the demand for refined oil at home and abroad fell to the bottom, and the market supply and demand were extremely unbalanced. On December 19, the state lowered the maximum retail prices of gasoline and diesel by 1160 yuan and 1270 yuan per ton. At the same time, the improved refined oil pricing mechanism has also been officially launched. The new mechanism stipulates that refined oil operating enterprises can independently determine or negotiate with the supply and marketing parties to determine the specific price according to the market conditions without exceeding the maximum retail price, the maximum wholesale price or the maximum supply price. This has also become the fuse for the large-scale price reduction of the two giants
on December 25 last year, PetroChina broke away from the maximum retail price limit for the first time in nearly 150 gas stations in Shanghai. The 2016 price of gasoline and diesel fell by an average of more than 5%, opening the prelude to the price war between the two giants. Then Sinopec responded, reducing the retail prices of three grades of oil products: No. 90 gasoline, No. 93 gasoline and No. 0 diesel at 44 gas stations in Shanghai, and the price per liter was 5 cents cheaper than PetroChina's "reduced price oil"
then, with the continuous rise of international crude oil prices, the expectation of domestic refined oil price increase strengthened. After three rounds of tit for tat competition, the price war between the two giants ended in March. On March 25, the national development and Reform Commission raised the retail price of domestic refined oil
now, with market expectations bearish and supply exceeding demand intensifying, PetroChina and Sinopec seem to be ready for the upcoming "price war" again
it was learned from PetroChina and Sinopec yesterday that in July, PetroChina determined its business strategy as "volume expansion and efficiency increase", requiring all enterprises to price close to the market and listing the completion of the sales plan for the month as 7. The transmission chain of the compression testing machine should be refueled in time, and the lubricating oil should be No. 50 mechanical oil. When refuelling, the testing machine can be tilted backward to make its base tilt up, and the chain under the base should be painted with a brush dipped in oil. The oil should not be excessive, Don't flow down Priority of work. In the process of volume price interaction, PetroChina enterprises will more adopt the business means of "small profits but quick turnover" to face the market, and will frequently adopt price reduction and promotion measures
Sinopec is also well prepared. After entering July, Sinopec's refined oil export contracted on a large scale. By the first ten days of July, all the export production plans were stopped and announced to be completed, making preparations for accelerating the inventory discharge in the future to prevent the depreciation of inventory resources
"when the market is in a downturn, competition and pragmatic strategies will be the basic policies of each main business unit." Zhong Jian said
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