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SunSirs: On June 23, the Asphalt Market Fluctuated Downwards
June 23 2022 14:07:17SunSirs(John)

Price trend

According to the monitoring data of SunSirs, as of June 22, the average price of petroleum asphalt of manufacturers in Shandong was 4,680 RMB/ton, down 0.89% from the previous trading day and up 38.89% year-on-year.

On June 23, the opening price of the main contract 2209 of asphalt futures was 4,320 RMB/ton, a decrease of 210 RMB/ton from the previous day.

Analysis review

The weak decline in international crude oil has driven the price of asphalt futures to decline. Although the fundamental data is still supported, the overall support is limited and the cost side has weakened significantly.

In terms of spot, the spot resources of asphalt are tight at the end of the month.

Market outlook

In the short term, the domestic asphalt spot market is mainly stable with small fluctuations.

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