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SunSirs: Crude Oil Price Fell, China Asphalt Price Followed
September 17 2020 07:52:45SunSirs(Selena)

The international crude oil price fell, while China domestic asphalt market price moved down. At the same time, the traditional demand peak season of asphalt market has insufficient support for asphalt price. According to the price monitoring data of SunSirs, the asphalt price was reported at 2,395 RMB/ ton on September 11, down 4.39% from the beginning of the month.

Due to concerns that the impact of the global epidemic will intensify, demand may be restrained, as well as the resonance impact of the sharp fall of technology stocks and energy stocks in the United States. At the beginning of the week, the international crude oil price fell sharply, but remained stable in the later period. WTI crude oil price fell by 6.21% and Brent crude oil price fell by 6.01%.

Recently, the northeast, North China and other regions have more rainfall, the asphalt market demand is general, the market transaction is light, and the asphalt price is falling. The rainfall in East China and Northern South China is obviously reduced, and the terminal road construction projects are gradually recovering, and the asphalt demand is recovering. Affected by the flood peak transit in Southwest China, the terminal demand is poor. At present, most of China's areas have clear autumn and less rainfall, so road construction projects are suitable for construction. At present, China domestic asphalt market has entered the traditional demand peak season, and the terminal rigid demand has increased compared with August, but the asphalt price support is still insufficient. In addition, last week's international crude oil prices fell sharply, pulling down the domestic asphalt price center of gravity. At the same time, the downstream stock up is cautious and the demand for goods is reduced. The domestic asphalt price dropped slightly.

Last week, the domestic asphalt plant operating rate was 64%, a slight decrease of 3% compared with the previous week. The asphalt plant operating rate continued to maintain a high level, and the refinery asphalt supply was sufficient.

SunSirs analysts believe that the international crude oil market demand is poor, crude oil prices continue to be under pressure, but entering the traditional peak demand season, the asphalt price has support, and it is expected that China asphalt price will rise steadily

 

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