Throughout March, the international oil price continued to fluctuate at a high level, the production cost rose sharply, the profit of oil production was at a loss, and some refineries entered maintenance and load reduction. At this time, the supply decreased, the market confidence was boosted, and the price rose rapidly, but the downstream demand remained rigid demand, and the market focus continued to fluctuate. However, as the price of international crude oil futures fell, the support of cost and mentality weakened, the oversold rebounded after the low-end price fell to 4940 yuan / ton, the port inventory remained high, the market supply decreased, and there was some support. The holders had a strong willingness to support the price. With the downstream news of negative maintenance and interest rate reduction, the demand gradually weakened, the supply and demand side was relatively deadlocked, the holders were weak in supporting the price, and the price continued to fluctuate.