Price Trend

According to the price monitoring of SunSirs, the market price of asphalt remained stable last week, and the price of asphalt was reported to be 3,420 RMB/ ton, which was the same as that of the previous week.

Analysis ofInfluencing Factors

Product: last week, the international crude oil price basically completed bottoming out, showing a shock recovery market. But at present, the asphalt market is in the off-season stage, the demand of asphalt market has not been greatly improved, and the overall demand of the terminal is still poor. Last week, the asphalt market maintained stable operation.

Industry chain: the impact of COVID-19 on the international crude oil market is weakening, and China's crude oil demand has improved. Most of the other producers except Russia support the reduction, but the EIA crude oil inventory increased by 415,000 barrels in the week of February 14. Last week, the international crude oil market has basically completed bottoming out, showing a shock recovery market.

Asphalt Market: the impact of China's epidemic is gradually reduced, but the resumption of asphalt road projects is not optimistic, and the overall demand for terminals is still poor. At present, the return to work rate of domestic asphalt enterprises will gradually increase, and the growth rate of asphalt demand is relatively slow. The asphalt prices of refineries in Shandong and Hebei maintain a periodic low point; in Northeast China, although the asphalt prices fell slightly last week; in the southern market, Sinopec's Asphalt prices have not been adjusted after the Spring Festival, and the market prices remain stable.

Market Forecast

The asphalt analyst at SunSirs believes that: the international crude oil market is on the rise, the asphalt production cost is rising, and the asphalt prices are relatively low in all regions. With the resumption of asphalt road projects increasing, it is expected that the asphalt market price will probably push up in the near future.

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