SunSirs: Energy, the Market Price of Asphalt Increased last Week (May 18-22)

According to the price monitoring of SunSirs, the market price of asphalt rose last week, and the price of asphalt was reported as 2,202 RMB/ ton, 1.15% higher than that of the previous week.

Analysis of Influencing Factors

Product: last week, the international crude oil price rose day by day, but the rainfall in the South increased, the release of terminal demand is still limited, and the price increase in the domestic asphalt market is limited.

Industrial chain: since May, OPEC+ member countries led by Saudi Arabia and Russia have implemented large-scale production reduction; crude oil production of the United States has also declined significantly; crude oil inventory of the United States and crude oil inventory of Cushing have also declined significantly. Multiple positive factors jointly push up the international crude oil price. At present, WTI has reached a high since March 10.

Asphalt Market: Northwest market: the production and sales of main refineries are stable, and the asphalt price is stable; Northeast and Inner Mongolia regions: the demand for asphalt is general, the enthusiasm of users is weak, and the asphalt price is expected to stabilize; North China, East China and Shandong markets: the international crude oil price rises well, and the asphalt inventory of refineries is low, the asphalt price of Sinopec's main refineries rises by 200 RMB/ ton, and the asphalt price pushes up; Southwest of South China: the output of asphalt in the main refinery of PetroChina increased, and the inventory also increased slightly, but the inventory remained at a low level, and the international oil price went up day by day, with the asphalt price rising.

Market Forecast

The asphalt analyst of SunSirs believes that in the short term, the oil price will continue to fluctuate, the demand for asphalt terminals will gradually recover, and the short-term asphalt market price is expected to rise steadily.

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