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SunSirs: Asphalt Market Was Operating to Be Weaker
February 20 2023 14:30:51SunSirs(John)

Price trend

According to the monitoring of SunSirs, the asphalt market was running to be weaker. From February 10 to 17, the price of asphalt in Shandong fell from 3,915 RMB/ton to 3,872 RMB/ton, a decrease of 1.09%, a month-on-month increase of 0.86% and a year-on-year increase of 8.86%. Supply concentrated recovered, refinery inventory continued to increase, and market quotations declined.

Analysis review

On the cost side, the market weighed the demand prospects of Asia and the economic performance of the United States, but the exchange rate of the dollar was strengthened and the international oil price fell slightly. NYMEX crude oil futures 03 contract was 78.49 USD/barrel, fell 0.10 USD/barrel or 0.13%; ICE Brent crude oil futures 04 contract was 85.14 USD/barrel, fell 0.24 USD/barrel or 0.28%. The cost side was negative for the domestic oil industry chain.

In terms of raw liquid wax, the price of liquid wax rose first and then fell this week. The market On the supply side, Hebei Kaiyi and Hebei Lunte units were shut down for maintenance, Zhuhai Huafeng and PetroChina Gaofu intermittent production resumed, Panjin North Asphalt stabilized production, Xinjiang Meihuite resumed production, and CNOOC Sichuan stabilized production. This week, the intermittent production and production reduction of individual refineries in Shandong and East China led to a decline in capacity utilization.

On the demand side, the rigid demand of the market was slightly flat. Some low-price resources and early contract warehousing were the main ones, and the overall demand for goods preparation had slowed down.

Market outlook

The cost side benefit disappeared, the supply was stable and the demand was slightly flat. The asphalt analyst of SunSirs expects that the domestic asphalt market will be in a downturn in the short term.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

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