Shandong Independent Refiners' Reforming Margin Hit 3-month High

The margins from catalytic reforming units at Shandong independent refineries began to increase at the end of June. According to SCI, the margins of catalytic reforming units at Shandong independent refineries was RMB 717.23/mt as of August 23, 2017, theoretically. The margins had reached a 3-month high. The average price of gasoline at Shandong independent refineries increased by RMB 640/mt from the end of July to August 16, while major feedstock prices were largely stable.

The market demand for gasoline is decreasing sharply, due to the end of students’ summer holiday. But the environmental protection inspections and production safety checks are weighing down the market supply of gasoline. Accordingly, the margins from catalytic reforming units at independent refineries will hover at high levels in the short run.