SunSirs: Crude Oil was Down, China Asphalt Futures Follow Down
July 16 2021 14:30:36 SunSirs (Selena)
On July 15, the closing price of 2109, the main contract of petroleum asphalt futures, was 3,218 yuan / ton, down 6.02%. According to the monitoring data of SunSirs, as of July 15, the average spot price of domestic asphalt was 3,476 yuan / ton, with a month on month increase of 3.57% and a year-on-year increase of 39.07%.
Affected by the sharp drop in international crude oil prices and weak fundamentals, the price of asphalt futures fell sharply, the overall market was slightly depressed, and there were more futures selling. In terms of spot goods, the domestic asphalt market is slightly divided. The supply in Northeast China is low, the resources are tight, and the prices are rising. Although the supply in other regions remains low, the demand is limited, individual inventory pressure is obvious, and the overall asphalt fundamentals are still under certain pressure.
In the future, there will still be more obvious rainfall weather in northern China, which will affect terminal construction and asphalt demand. SunSirs asphalt analysts expect that short-term asphalt price will fluctuate at a high level in China.
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