Price trend

Since May 2022, the domestic asphalt spot market has been advancing rapidly, with a rapid rise. According to the monitoring data of SunSirs, the average ex-factory price of asphalt in Shandong on May 1, 2022 was 4,077 RMB/ton, and the price on May 26 was 4,522 RMB/ton, an increase of 10.93% during the cycle and a year-on-year increase of 37.75%.

Analysis review

The main reason for the continued sharp rise in prices this time is the strong support from both cost and supply: the continued favorable crude oil price still supports the fundamentals of the domestic asphalt market. At the same time, both the north and the south are in a situation of tight supply, and a violent expansion of demand. At present, driven by tight supply, downstream procurement sentiment is getting higher and higher. As the weather improves, road construction gradually returns to normal, and demand is expected to be further opened.

Market outlook

It is expected that domestic asphalt prices will remain strong in the short term.

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