SunSirs: China Asphalt Market Declined significantly
November 07 2022 10:29:04 SunSirs (Selena)
According to the monitoring data of SunSirs, from October 31 to November 4, the average spot price of domestic asphalt producers in Shandong was 4,446 RMB/ ton at the beginning of the week, and 4,333 RMB/ ton at the weekend. During the cycle, the price fell by 2.54%, 3.28% month on month, and 24.25% year on year
The spot market price of asphalt continued to decline last week, and the price in South China fell significantly. The price reduction and batch discount of major refineries drove the market price down. At the same time, the demand is weak, transportation is limited in some regions, and the spot asphalt market has declined significantly.
At present, asphalt supply is mainly maintained at a high level; On the demand side, road demand is mainly stable and rigid. SunSirs asphalt analysts expect that the short-term China domestic asphalt market will be dominated by downturn.
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