SunSirs: Low Demand, China Asphalt Market is dominated by Shock Consolidation
July 27 2021 14:18:19 SunSirs (Selena)
On July 26, the closing price of 2109, the main contract of asphalt futures, was 3,104 RMB/ ton, down 2.33%. According to the monitoring data of SunSirs, as of July 26, the average spot price of domestic asphalt was 3,366 RMB/ ton, with a month on month decrease of 0.88% and a year-on-year increase of 33.33%.
At present, the domestic asphalt spot market continues to be mainly stable and minor. Some areas in the North just need to recover slightly, and the overall demand in the south is slightly flat due to typhoon factors. The market demand in some areas is slightly flat, and the loading and shipment of refineries is limited due to typhoon factors.
In the short term, although the rise of international crude oil has a certain support for the atmosphere of the domestic asphalt market, the downturn of terminal demand still restricts the spot price of asphalt. SunSirs asphalt analysts expect that China asphalt spot market will be dominated by shock consolidation.
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