SunSirs: On May 13, the Asphalt Market Sorted Out after Rising
May 16 2022 10:55:55 SunSirs (John)Price trend
According to the monitoring data of SunSirs, the average price of petroleum asphalt of manufacturers in Shandong on May 13 was 4,421 RMB/ton, an increase of 11.44% month-on-month and a year-on-year increase of 36.73%.On May 13, the closing price of the main contract 2206 of petroleum asphalt was 4,264 RMB/ton, a decrease of 1.23%.
Analysis review
Although the international crude oil was slightly stronger, the asphalt futures disk had weakened, the market fundamentals were slightly flat, and the terminal demand was slightly stable. In terms of spot, the overall low-price resources of the domestic asphalt spot market were limited. This week, refineries' quotations were raised several times and fluctuated at high levels.
The main reason was still the shortage of supply in the previous stage, the supply had increased, and the spot market of asphalt sorted out after rising.
Market outlook
With the gradual digestion of high-priced supply sources, downstream demand is relatively stable, and the domestic asphalt market will fluctuate and sort out in the short term.
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