SunSirs: On June 27, the Asphalt Market Fluctuated within a Narrow Range
June 28 2022 14:42:24 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, as of June 27, the average price of petroleum asphalt of manufacturers in Shandong was 4,605 RMB/ton down 0.35% from the previous trading day and up 35.60% year-on-year.
Analysis review
On June 27, the main contract 2209 of asphalt futures closed at 4,508 RMB/ton an increase of 2.64%.Driven by the rise in international crude oil, the price of asphalt futures surged significantly. In terms of spot, the fundamentals were slightly flat, and the overall market conditions had weakened. Demand slowed down in some areas due to rainfall.
Market outlook
In the short term, the domestic asphalt spot market will mainly be sorted out.
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