- Price Trend
According to the price monitoring of SunSirs, the market price of asphalt was stable last week, and the price of asphalt was reported to be 3,358 RMB/ton, which was the same as that of the previous week.
- Analysis of Influencing Factors
Product: the international crude oil market price was relatively high and fluctuates in a narrow range. The asphalt market was lack of cost support and the overall demand of the asphalt market was not good, and the asphalt price was stable and falling.
Industrial chain: the price of international crude oil market was relatively high last week, with little fluctuation. OPEC's discussion on production reduction has made the market cautious in trading. The U.S. crude oil inventory and production have both increased. At present, the international crude oil market price is not strong. WTI crude oil closed at $58.11 /barrel last week, down 0.18% on a weekly basis.
Asphalt Market: the weather turns cold, and the overall demand of asphalt market is poor. In Shandong and North China, the demand is general, and there is partial finishing demand; refineries in Shandong and Hebei are gradually increasing; the market demand in East China has not improved significantly, and the market demand is mainly rigid; in southwest and South China, the demand end maintains rigid demand, while the downstream and traders are not active in purchasing mentality. At present, the market price of asphalt has not touched the psychological price of traders' winter storage. Last week, the domestic asphalt market price fell steadily.
- Market Forecast
The asphalt analyst of SunSirs believes that: the international crude oil price is weak, the demand for asphalt market has entered the off-season, and the downstream demand is constantly weakening. It is expected that the price of asphalt market will decline steadily this week.
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