According to the Commodity Market Analysis System of the Business Society, the asphalt market is weak and volatile. From August 15th to 22nd, the price of asphalt in Shandong fell from 3759 yuan/ton to 3749 yuan/ton, a decrease of 0.27%, a month on month decrease of 1.36%, and a year-on-year decrease of 15.65%. There is still an imbalance between supply and demand, with significant supply pressure and a short-term weakness in the asphalt market.
On the supply side, the comprehensive operating rate of the asphalt industry has increased month on month for major production enterprises, and there is a negative impact on the supply side.
On the cost side, in terms of crude oil: International crude oil prices are weak and volatile. As of August 21, the settlement price of the main contract for WTI crude oil futures in the United States is at $80.12 per barrel, while the settlement price of the main contract for Brent crude oil futures is at $84.46 per barrel.
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 22nd, the oil asphalt futures market has declined. The main asphalt contract 2311 opened at 3790 yuan/ton, with a maximum price of 3808 yuan/ton and a minimum price of 3779 yuan/ton. It closed at 3797 yuan/ton in the end, a decrease of 8 yuan/ton compared to the previous trading day, a decrease of 0.21%. The trading volume is 231760 lots, the holding volume is 367492 lots, and the daily increase is -6089.
In the future market forecast, the supply continues to be high, and from the demand side, there will be short-term rainfall in the northeast region of North China, which may hinder demand. Business Society asphalt analysts predict that the domestic asphalt market will be mainly weak in the short term.
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