- Price Trend
According to the price monitoring of SunSirs, the asphalt market price fell in October, and the asphalt price at the end of the month was 3,444rmb/ ton, down 5.86% from 3,658 rmb/ ton at the beginning of the month.
- Market Analysis
Product: the demand of asphalt Market in October shows a weak trend in the peak season. In addition to the weak operation of international oil price in October, the price of asphalt Market in October shows a unilateral downward trend.
Industry chain: in the first ten days of October, the international crude oil market was affected by negative factors such as Saudi Arabia's crude oil production resumed beyond expectation, and Britain's negotiation of brexit was in deadlock, the crude oil price continued to decline; in the middle and last ten days of October, OPEC's oil producing countries may expand the scale of production reduction, as well as the number of active drilling platforms in the United States and the decline of crude oil inventory, which will boost the crude oil market price. In October, international crude oil fell first and then rose, with a slight fall overall. WTI crude oil price fell by 1.52% and Brent crude oil by 2.10%.
Asphalt market: in October, the demand of asphalt Market in the North did not change significantly, and the weak operation of crude oil price made the price of asphalt market bear a downward trend. In September, the national asphalt production continued to climb to 2.668 million tons, the import volume was basically stable at about 380000 tons, and the refinery operation rate remained at about 61%. In October, refinery asphalt production is expected to increase month on month, and asphalt spot market continues to increase. The road construction in Northeast China is coming to an end, and the delivery price of long-term refining asphalt is down; the asphalt production in Shandong Province is full, and the asphalt price in North China is also declining due to the impact of external resources. On the whole, the market demand after the national day did not show a strong situation, and the market price of asphalt followed the weak trend of crude oil price.
- Market Forecast
According to the asphalt analyst of SunSirs, the peak season of domestic asphalt market is not prosperous in October, and the demand for asphalt will be further reduced in November. In addition, the current weak operation of international crude oil market price, the asphalt price is expected to continue to fall steadily in November.
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