In March, the price of Shandong naphtha market first fell and then rose, and the trading center of the market shifted upwards. International oil prices have steadily risen to new highs within the month, with strong cost support. However, the improvement in terminal demand is limited, and the market growth rate is not as high as that of raw materials.

In terms of supply and demand, refineries have been affected by profits, resulting in sustained tight supply. The demand for ethylene cracking has remained sluggish, and market trading is still focused on the shortage of essential demand for local refining and restructuring. In the latter half of the year, due to the boost in international oil prices and the impact of travel expectations during the Qingming holiday, related gasoline and gasoline components have shown an upward trend, driving market sentiment and emerging from a continuous upward trend. According to Longzhong Data Monitoring, as of March 29th, the Shandong straight run naphtha market is 8104 yuan/ton, and the hydrogenated naphtha market is 8279 yuan/ton.