Sinopec raises asphalt price by alarge margin

BU2012 contract of Shanghai Futures Exchange opened at 2,558 RMB/ ton, with the highest price at 2,656 RMB/ ton, the lowest price at 2,540 RMB/ ton and the closing price at 2,650 RMB/ ton, up 90 RMB/ ton or 3.52% compared with the previous trading day. Trading volume was 697,400, with positions increased by 20,379 to 463,700.

Market Quotation: Northeast region quotation is 2,375 RMB/ ton, +50; northwest region quotation is 2,800 RMB/ ton, +150; North China region quotation is 2,375 RMB/ ton, +85; Shandong region quotation is 2,410 RMB/ ton, +100; South China region quotation is 2,500 RMB/ ton, +100; East China region quotation is 2,485 RMB/ ton, +135; Southwest region quotation is 2,760 RMB/ ton, +60.

Summary: the number of oil drilling wells in the United States has dropped to a historical low. According to the survey, OPEC's production has dropped to the lowest level in 20 years. OPEC considers extending the current record production reduction to the end of the year, and the international crude oil price fluctuates and rises. The start-up of major domestic asphalt manufacturers has increased slightly, and the inventory of manufacturers has picked up. The resources of refineries in Shandong are in short supply, and some refineries are queuing up for delivery, and traders have increased their enthusiasm to prepare goods; Sinopec and other refineries raised their prices to drive the market atmosphere, the spot market rose, and the spot market in East China, Shandong, northwest and other regions increased.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.