Since May, the international oil price has been on the rise. This week, the WTI crude oil price reached a two-month high of 33-34.5 USD / barrel, which supported refineries to push up the factory price driven by the buying sentiment. According to the price monitoring data of the business agency, the price of asphalt this week was 2250 yuan / ton, 2.16% higher than that of last week.

In the middle of last week, Sinopec’s settlement price of asphalt in East China and South China was increased by 100 yuan / ton, and the main price of asphalt was increased by 50-100 yuan / ton. Due to the influence of Sinopec’s price adjustment, the asphalt price also increased slightly. The demand for asphalt in South China is good, the inventory level of refineries is low, some refineries have reached the balance of production and sales, the overall demand is fair, and the main transaction price has increased by 150 yuan / ton.

The increase of asphalt supply restricts the increase of asphalt. The data shows that the domestic asphalt production in April was 2513200 tons, an increase of 5% year on year, and the import volume from January to March 2020 was 1093200 tons, an increase of 24.44% year on year. At present, asphalt is at a low level, and it is close to the peak season of asphalt demand, attracting merchants from the middle and lower reaches to take the goods. Under the strong demand, increasing supply has restrained the space for asphalt to rise. It is expected that the asphalt price will rise steadily in the near future.