- Price Trend
According to the price monitoring of SunSirs, the price of asphalt market rose in September. At the end of the month, the price of asphalt was 3,694 RMB/ton, which was 4.19% higher than that of 3,546 RMB/ton at the beginning of the month.
- Analysis of Influencing Factors
Products: In September, the market demand of East China asphalt was tight, and the market price was rising. The market demand of asphalt in other areas was normal. However, the international oil price soared in the middle of the year, which directly raised the domestic market price of asphalt.
Industry chain: the Sino US trade war continued in the beginning of the month, but the overall atmosphere of the crude oil market remained weak. But in Russia, it announced that the production was strictly cut down, and the situation in the US and Iran deteriorated, and the market sentiment was strong. Saudi Arabia's oil equipment was attacked in mid-month. After losing 5.7 million barrels per day of production, the market panicked up nearly 15%, but Saudi Arabia said oil production would resume in a short time and international oil prices would gradually fall in the latter half of the month.
Asphalt market: In September, the overall demand of domestic asphalt market was stable, and the demand in East China was strong. Inventory declined in Northeast China, and refinery shipments began to improve; In Shandong and part of North China, due to the influence of National holidays and polluted weather, asphalt transportation and downstream projects are restricted, and the overall demand for asphalt is not good. Demand in East China is good, asphalt inventory in major refineries has decreased significantly, Sinopec has continuously raised settlement prices in the late September, and a large amount of extra-regional resources have flowed into East China. In South and Southwest China, the demand has not changed significantly, and the market supply is still abundant. Driven by strong demand in East China and soaring crude oil prices in mid-September, domestic asphalt market prices went on as a whole.
- Market Forecast
According to asphalt analyst of SunSirs, the international crude oil market is expected to be stable in October, and the price of asphalt is expected to be stable in October due to the lifting of the ban on asphalt demand during the National Day holiday.
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