Paraffin futures at ¥3,650/t (-1.62%), petcoke inventory elevated, East China tankage utilization tight constraining export loading efficiency. Brent–WTI spread narrowed to $9.43; RMB appreciation failed to offset weak domestic demand.

Paraffin price at ¥3,650/ton (+1.42%), export margin turned positive; petcoke inventory rate rose to 87%, with visible port congestion in East China. Brent–FO spread narrowed to $22.1/bbl, supporting paraffin cracking economics.

Paraffin: ¥8,210/t (-1.32%); petroleum coke: ¥2,965/t (+0.47%); port stocks at 423kt (+1.8% w/w). FOB Busan paraffin quotes fell below landed cost; power plant procurement slowdown accelerated coke accumulation.