The third quarter is the peak season of traditional demand for asphalt. The willingness to store up downstream goods is enhanced, and the refinery sales situation is good. In addition, the international oil price shocks and strengthens, and the asphalt price continues to rise. According to the price monitoring data of the business agency, the asphalt price on July 9 was 2475 yuan / ton, which was 5.32% higher than that on July 1.
| PVA 1799 (PVA BF17) |
In the first ten days of July, the southern region is still in the plum rain season, and the rainfall in East China, South China and other southern regions is still relatively large, and there are floods in many places, and the demand for asphalt terminal is low. However, the Meiyu season officially ended in southern China on July 9. The peak demand season of terminal market is still expected, and the mid and lower reaches have a strong desire to store goods. In Shandong and East China, there was a cumulative stock of asphalt, with the social inventory rate of 65-70%, which was 2-3% higher than last week, while the social inventory rate in South China was 61%, down 2% compared with last week. Asphalt stock demand is the main reason to boost the market price of asphalt.
The domestic production in June was 2.7859 million tons, and the domestic asphalt production plan in July was 2.98 million tons, both the highest levels in the same period of history. This week, the domestic asphalt operating rate is 64%, and the higher level is also at a higher level. However, the total inventory rate of refinery asphalt is 24%, and the inventory rate of refinery in Shandong area of North China is about 15%. Refinery asphalt inventory pressure is small, shipment is smooth, refinery asphalt prices continue to increase sales.
| PVA 1788 (PVA BP17) |
OPEC + countries are determined to reduce production. Saudi Arabia and others have raised crude oil prices, boosting the international crude oil prices. WTI and Brent crude oil prices rose by 4.15% and 4.89% respectively in the first ten days of July. Domestic asphalt market price to cost support.
Business agency analysts believe that the southern region continued to rain weather, terminal asphalt demand to be restored. After this round of small increase in asphalt market price, it is expected that the asphalt price will fall slightly.
| PVA |