According to the price monitoring of SunSirs, the market price of asphalt remained stable last week, and the price of asphalt was reported as 2,252 RMB/ ton, which was stable compared with the previous week.

Analysis of Influencing Factors

Product: last week, the international oil price fell, the asphalt market and the terminal demand release were limited, and the social inventory consumption was slow. However, the asphalt manufacturers sold at a high price, and the asphalt market price remained stable.

Industry chain: WTI futures delivery dropped international oil prices, crude oil prices fell, the "US Iran" relationship was once again strained last week, geopolitical risk factors increased the premium space of crude oil; at the same time, OPEC+ and other oil producing countries gradually put production reduction on the agenda, active production reduction combined with passive production reduction brought a certain boost to the market. International oil prices fall first and then rise.

Asphalt Market: at the beginning of last week, the price of asphalt in Sinopec and PetroChina refinery was increased, but then the international crude oil fell sharply on Tuesday, driving the price of asphalt down. Last week, prices in the northwest and northeast regions were basically stable. Due to the rigid demand for supporting the delivery in the southern region and the trans-regional allocation of some resources of the refinery, the delivery of the refinery was smooth, the inventory dropped significantly, and the price of asphalt market rose and fell steadily.

Market Forecast

The SunSirs asphalt analyst believes that, the operating rate of domestic refining plants has reached a high level, the release of asphalt terminal demand is limited, and the low oil price has depressed the market mentality, and it is expected that the short-term asphalt market price will be weak and stable.

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