Low throughputs generate high feedstock inventory ZPC, Hengli cut throughputs by 21.8% on month Feedstock consumption at Shandong’s independent refineries continued to fall and hit a 26-month low in April amid weak refining margins, data form local information provider JLC showed on May 12. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The volume fell 9.1% from March to 7 million mt, which was also a six-month consecutive fall since November 2021. The weak refining margins resulting from high crude prices and weak sales of oil products hurt the overall run rates in April, JLC said. The theoretical refining losses from processing imported crudes were around Yuan 224 ($33.32)/mt, compared to a loss of just Yuan 1/mt a month earlier, according to JLC’s calculation. As a result, a combined refining capacity of around 45 million mt/year was shut down in April, after […]