The international oil price fluctuated above $40 / barrel, and the operating rate of asphalt plant dropped slightly, which supported the asphalt market price. Recently, the domestic asphalt price has been rising steadily. According to the price monitoring data of the business agency, the asphalt price was reported at 2512 yuan / ton on July 21, 1.52% higher than that on July 13.

In terms of international crude oil, U.S. crude oil demand improved and crude oil inventory decreased significantly. While the crude oil market released good news, OPEC + relaxed production reduction as scheduled, and the overseas epidemic continued to drag down the global economy and crude oil demand prospects. International oil prices rose first and then fell, but crude oil prices fluctuated above $40 / barrel. In terms of production cost, the asphalt market price has a certain support.

At present, rainy weather in southern China limits the demand of terminal asphalt. The northeast and northwest are in the peak season of construction, and the rigid demand is relatively good. The end of Meiyu season in southern China, the peak demand season of asphalt terminal market is expected to remain, and the middle and lower reaches have a strong desire to stock up. Asphalt inventory is transferred from refinery to social inventory.

In the same period, the domestic production of asphalt was 2.78 million tons, which was the highest in domestic production in the same period. At present, the asphalt inventory of refineries has risen slightly, and some refineries have reduced the asphalt production load. The domestic asphalt operating rate this week was 68%, which was slightly down 3% compared with last week.

Business agency analysts believe that the southern region affected by rainfall, flooding, terminal asphalt demand to be restored. The demand for terminal asphalt in northern China is relatively strong, and the asphalt load of refineries is reduced. It is expected that the asphalt price will continue to rise slightly.