SunSirs: Asphalt Market Fluctuated Weakly
February 14 2023 11:08:26 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the asphalt market is weak and volatile. From February 3 to 10, the price of asphalt in Shandong fell from 3,939 RMB/ton to 3,915 RMB/ton, a decrease of 0.62%, a month-on-month increase of 2.82%, and a year-on-year increase of 5.78%.Downstream demand recovered slowly, the shortage of spot resources eased, and some quotations fell.
Analysis review
On the cost side, crude oil rose for three consecutive days in the week, and Brent crude oil rose again above 85 US dollars/barrel, which was positive for market mentality. Overall, the international crude oil price was temporarily positive for refinery fundamentals.
On the supply side, Yangzi Petrochemical, Yunnan Petrochemical, Qilu Petrochemical and Shandong HSBC produced intermittently. Hebei Xinhai Plant produced intermittently and Hebei Kaiyi increased production. Domestic asphalt production enterprises increased their operating rate and supply increased this week.
On the demand side, due to the influence of large range of rain and snow weather factors, the actual demand was relatively cold and the enthusiasm of traders and terminals to prepare goods at high prices slowed down.
Market outlook
The international crude oil was relatively stronger, and the spot price of asphalt was relatively strong, but the demand side was slightly flat. Affected by a wide range of rain and snow weather factors, the actual demand was relatively cold. The asphalt analyst of SunSirs expects that the domestic asphalt market will be in a downturn and sorted in the short term.
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