It is reported that the CDU capacity utilization rates of domestic independent refineries refreshed the annual low last week, which averaged 55.95% in the week ending April 25, down 1.17% from the previous week, according to OilChem survey.
It was the fourth week in a row that the independent refineries reported a drop in the CDU capacity utilization rates, following a short rebound in the second half of March.
Source: Mysteel OilChem
The fall last week was attributed to a refinery in Northwest China reducing the production for overhaul, though Shandong Huaxing Petrochem and Changyi Petrochem raised the production to meet the production guidance.
OilChem predicts that the independent refineries' CDU capacity utilization rates will remain largely flat at 55.92% on average in the week ending May 2, with no new maintenance and production resumption plans heard.
Source: Mysteel OilChem
Written by Aggie Hu, huchenying@mysteel.com
Edited by Navy Liu, liuchuanjun@mysteel.com