SunSirs: China Asphalt Market Fluctuated Upward
August 22 2022 09:29:51 SunSirs (Selena)
According to the monitoring data of SunSirs, from August 12 to August 19, the average spot price of domestic manufacturers in Shandong increased from 4,419 RMB/ ton to 4,483 RMB/ ton, with a price increase of 1.45% in the cycle, a month on month increase of 4.99% and a year-on-year increase of 31.62%.
Last week, the domestic asphalt price continued to fluctuate upward, mainly due to the favorable support of asphalt fundamentals and the recent centralized start of downstream demand. Sinopec continued to push up the price within the week, with the price rising at 100-110 RMB/ ton.
Recently, some enterprises have switched to asphalt production, which has a negative impact on the supply level. At the same time, the terminal demand recovers slowly, and the traders mainly take the goods that are just needed. SunSirs asphalt analyst predicted that the short-term domestic asphalt market would be mainly sorted out in China.
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