SunSirs: Asphalt market hit a new "high price" in May

In May, the domestic asphalt market was affected by the international crude oil price, tight supply and sharp demand, and the price continued to rise. According to the monitoring data of the business agency, the spot price of domestic asphalt at the beginning of the month was 4077 RMB/ton, and the market price of domestic asphalt at the end of the month was 4706 RMB/ton. The price increased by 15.42% in the month and 43.77% year-on-year.

At the beginning of May, the domestic asphalt spot market rose significantly after the festival, and the price rose rapidly in a short time. The main reason is that the international crude oil price fluctuates at a high level, which is good for the whole oil industry chain. On the other hand, at present, the supply of some refineries is low, and the market supply is relatively scarce. The asphalt futures market continued to rise, which also boosted the bullish sentiment of the whole asphalt market.

In mid May, the domestic asphalt market price stabilized after rising. In terms of regions, the price increase in South China is the most obvious, mainly driven by the shortage of resources in the region and the rise of main prices; The second is East China, mainly due to Sinopec's price increase of 100-140 RMB/ton during the week; Then in the northwest, northeast and southwest, the prices of some brands rose, and the transaction range rose slightly; The price increase in Shandong and North China was relatively small, which was mainly affected by the wide range of crude oil shocks. Some low-cost sources of goods still existed, and the overall increase was limited.

In late May, the domestic asphalt market price rose slightly. In terms of regions, the planned overhaul price of major refineries in Northwest China has increased by 300 RMB/ton, and the market price has risen significantly; The resource supply in Northeast China is tight, and the price rises with the start of demand; In South China, Sinopec raised the price by 100 RMB/ton, but some PetroChina refineries have preferential policies; Spot resources in Shandong and North China are relatively tight, and market prices have increased slightly.

As of May 31, the factory quotation summary of major asphalt manufacturers in Shandong:

The weather in the north is OK, and the demand is stable, which has a certain support for the shipment, but the rainfall in the South has increased, or has a certain restriction on the demand. The asphalt analysts of the SunSirs predict that the domestic asphalt market may be dominated by high-level consolidation.

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