- Price Trend
According to the price monitoring of SunSirs, the market price of asphalt was stable last week. The price of asphalt closed at 3,654 RMB/ton, down 0.22% from the previous week's price.
- Analysis of Influencing Factors
Product: After National Day, the market demand of asphalt has not improved significantly, and the international oil price has been fluctuating downward, and the market price of asphalt continues to bear pressure.
Industry chain: Last week, the negative news in the international crude oil market continued, and crude oil prices fell as a whole. Saudi official news said the country's crude oil production had returned to pre-attack levels; the International Energy Agency downgraded its forecast for global oil demand growth for 2019 and 2020; the US EIA inventory data was once again negative, crude oil inventories and production showed a rise; and the weak global economic performance limited the rise in international oil prices.
Asphalt market: After the National Day, the demand of northern asphalt market has not changed significantly, and the price of crude oil has continuously declined, which makes the price of asphalt market bear a downward trend, and the price of asphalt in some refineries has been slightly reduced after the holiday. The market demand in East China is still strong after the holiday, but Sinopec and China National Petroleum Corporation (CNPC) refinery shipments were affected to some extent during the National Day period, refinery inventory increased significantly, and resources in South and Northeast China are still flowing into East China. The market demand in South China and Southwest China is general. After the National Day, the market demand has not shown its due prosperity, and the short-term market demand for asphalt is not optimistic.
- Market Forecast
According to asphalt analyst of SunSirs, the price of international crude oil has fallen sharply, and there has been no large-scale rush-up after National Day. Apart from East China, asphalt prices in other regions are expected to decline steadily.
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