1、 Price trend
According to the price monitoring of the business agency, the market price of asphalt fell this week, and the price of asphalt was reported as 3300 yuan / ton, 2.37% lower than that of last week.
2、 Analysis of influencing factors
| PVA 1799 (PVA BF17) |
Product: the international oil price continues to fall, the demand of asphalt market is low, and the price of asphalt market falls this week.
Industrial chain: since the OPEC + conference, Saudi Arabia has been releasing the news of a substantial increase in production, and Russia has actively responded to the war to increase production. Although U.S. President trump said that he would intervene in the oil price dispute between Saudi Arabia and Russia at the right time, and the international oil price rebounded in retaliation, as of 15:00 on the 20th, WTI crude oil price was 27.5 US dollars / barrel, and WTI crude oil futures still fell 16%.
In terms of asphalt Market: crude oil price continued to decline this week, and asphalt spot continued to decline. On Tuesday, Sinopec’s Asphalt price in East China and South China was reduced by 200 yuan / ton, and the asphalt price in Sichuan Province, China Sea, was reduced by 700 yuan / ton twice. The asphalt transaction prices in Northeast China, Shandong Province and Hebei Province were continuously reduced, and the market price decline was hard to stop. Although it just needs to recover, the demand side is limited, and the trend of crude oil price is pessimistic. Major institutions continue to reduce the price expectation in the later period, the market mentality is pessimistic, the cost end of asphalt production collapses, and there is room for asphalt price to be lowered.
| PVA FIBER |
3、 Future forecast
Lu Xingjun, an asphalt analyst at business club, believes that: Although crude oil rebounds sharply, global crude oil demand is still shrinking, and there is no sign of turning around in the current oil price war between Saudi Arabia and Russia, and the production cost of asphalt continues to pull down. It is expected that the price of asphalt market will continue to bear pressure in the near future.
| http://www.barium-chloride.com |