SunSirs: China Asphalt Market Declined significantly
November 16 2022 13:30:28 SunSirs (Selena)
The spot market price of asphalt continued to decline last week, mainly due to the end of demand, the refinery reduced the price for shipment, and the downstream factories mainly purchased on demand. The actual delivery atmosphere was poor.
According to the monitoring data of SunSirs, from November 4 to 7, the average spot price of domestic asphalt manufacturers in Shandong was 4,285 RMB/ ton at the beginning of the week, and 4,163 RMB/ ton at the weekend. During the cycle, the price fell 2.83%, the price fell 6.96% month on month, and rose 19.37% year on year.
The change trend of Brent crude oil and asphalt prices is different around November 1. Before November 1, the change trend of Brent crude oil and asphalt prices is basically the same. After November 1, the change trend of brent crude oil and asphalt prices is in contrast. The crude oil is upward, while asphalt prices are downward. It can be concluded that the main factor influencing the asphalt price trend in the near future is not crude oil, but other aspects, such as supply and demand.
At present, asphalt supply is relatively stable; From the demand side, the road demand may be limited due to weather conditions. SunSirs asphalt analysts expect that the short-term China domestic asphalt market will be dominated by downturn.
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