I. price trend
According to the price monitoring of the business agency, the asphalt market price is stable this week, with the asphalt price closing at 3378 yuan / ton, 0.59% lower than last week’s Asphalt price.
II. Analysis of influencing factors
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Products: the price of international crude oil market fluctuates in a narrow range. Refineries in North China and Shandong continue to reduce the factory price of asphalt, and the transaction price of asphalt market continues to decline.
Industrial chain: this week, international crude oil prices fluctuated in a narrow range. Although OPEC countries are expected to continue to expand the scale of production reduction, U.S. crude oil inventory growth, production hit a record high, coupled with a slowdown in global economic growth. The international crude oil market still has no breakthrough direction, and the international crude oil price keeps stable operation.
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Asphalt Market: the weather turns cold, the rigid demand of asphalt market continues to weaken, and the market price is under pressure. In Northeast China, the current road demand continues to weaken, the overall demand is not good, and Liaohe Petrochemical and other refinery units are shut down and converted to production. In Shandong and North China, the factory asphalt price of refineries has been lowered under the trend of weakening asphalt market demand. The demand for asphalt in the East China market is fair, but there is no obvious peak season in the South China and southwest markets, and the demand is stable. Overall, the demand for asphalt in the north will further weaken, while the southern market will be stable for the time being.
III. future forecast
Lu Xingjun, an asphalt analyst at the business club, believes that the international crude oil price is in a volatile circle, the demand for asphalt market is declining, and the asphalt price is expected to continue to decline.
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