SunSirs: Asphalt Market Prices Remained Stable last Week (9.16-9.23)

1. Price Trend

According to the price monitoring of SunSirs, the market price of asphalt remained stable last week, with the price of asphalt closing at 3,640 RMB/ton, which was more stable than that of the previous week.

2. Analysis of Influencing Factors

Products: The market demand in East China is good. The price of asphalt market has increased 130 RMB/ton. The market demand in other areas is stable as a whole, and there is no big change in the market demand.

Industry chain: Saudi Arabia's oil equipment was attacked last week. After the loss of 5.7 million barrels / day of production, the market panicked up nearly 15%. However, Saudi Arabia said that oil production would resume in a short period of time, and the international oil price dropped. International crude oil rose last week, with WTI crude oil rising 5.98%.

Asphalt market: In Northeast China, the overall inventory pressure of refineries has eased to a certain extent. In Shandong and parts of North China, news of downstream project shutdown has spread, and downstream demand is difficult to improve explosively in the early days of National Day. Demand in East China is strong, and the price of asphalt market is rising slightly. The overall demand performance in South and Southwest China is general. After the international oil price rises sharply, it falls back, which has little influence on the asphalt market. Overall, at present, the supply of asphalt resources is abundant, and the refinery resources in some areas are a little tight. Under the condition of stable market demand for asphalt, the price of domestic asphalt market remains stable.

3. Market Forecast

According to SunSirs’ asphalt analyst, international crude oil prices have fallen steadily, and overall asphalt demand has not improved. It is expected that this week's high asphalt prices will run steadily.

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