SunSirs: General Demand, Narrow Consolidation of China Asphalt Market
August 16 2021 14:24:45 SunSirs (Selena)
The slight rebound of international crude oil led to the rise of asphalt futures, and the offer of low-cost resources in some regions increased, but the overall demand is still tepid, and the power space for market rise is limited. According to the monitoring data of SunSirs, from August 6 to August 13, the average spot price of domestic asphalt remained at 3,413 RMB/ ton, with a month on month decrease of 1.82% and a year-on-year increase of 34.65%.
On the supply side, the domestic asphalt supply will continue to increase steadily next week. Individual refineries in Shandong, northeast and Hebei may resume production, and the overall resource supply will increase steadily; On the demand side, due to the influence of factors such as large-scale rainfall, weather and epidemic situation, the overall demand recovery is limited.
At present, the operating rate of the whole asphalt industry is low, and the supply of goods is good for the future. SunSirs asphalt analysts expect that China domestic asphalt spot market is expected to be dominated by high-level consolidation in the near future.
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