According to the Commodity Market Analysis System of the Business Society, the asphalt market has declined in a narrow range. From August 7th to 10th, the price of asphalt in Shandong fell from 3804 yuan/ton to 3776 yuan/ton, a decrease of 0.74%, a month on month increase of 0.09%, and a year-on-year decrease of 13.53%. The international crude oil market is relatively strong, but cost support is limited. The supply side continues to maintain a high level, and demand remains average. The asphalt market is weak in the short term.
In terms of supply, the daily production of major production enterprises has slightly increased, driving an overall increase in supply within the area.. The comprehensive operating rate of the asphalt industry has increased month on month, with negative impacts on the supply side.
On the cost side, in terms of crude oil: In terms of crude oil, the international crude oil price continues to rise, with the US WTI crude oil price reaching a nearly 9-month high. The main reason is that market supply concerns continue to ferment, coupled with the phased positive trend of the peak oil consumption season. As of the close on August 9th, the settlement price of the main contract for US WTI crude oil futures was at $84.40 per barrel, an increase of $1.48 or 1.8%. The settlement price of the Brent crude oil futures main contract was $87.55 per barrel, an increase of $1.38 or 1.6%.
On the demand side, the demand for asphalt in the market is relatively flat, with varying demand in different regions. The market has slowly recovered in the early stages of demand, and demand in some regions has gradually increased. However, some regions are still difficult to show significant improvement due to the impact of rainfall. The demand side of the asphalt market has a relatively stable impact.
As of the close of August 10th, the oil asphalt futures market has risen. The main asphalt contract 2310 was opened at 3703 yuan/ton, with a maximum price of 3727 yuan/ton and a minimum price of 3688 yuan/ton. It closed at 3695 yuan/ton in the end, an increase of 10 yuan/ton or 0.27% compared to the settlement on the previous trading day. The trading volume was 187483 lots, the position was 193832 lots, and the daily increase was -13890.
In the future market forecast, international crude oil is operating at a high level, but the boost to the asphalt market is limited, and the supply side remains stable while increasing, with slight differences in demand among regions. Business Society asphalt analysts expect that the short-term domestic asphalt market situation will be mainly sorted out.
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