According to the monitoring of the business agency, the asphalt market has recovered and fluctuated. From February 27 to March 3, the price of asphalt in Shandong rose from 3888 yuan/ton to 3896 yuan/ton, up 0.22%, down 1.09% month-on-month and up 7.60% year on year. Recently, supported by the relatively strong crude oil, the asphalt market quotation has risen. The overall operation of the refinery is relatively stable, and the modified processing has warmed up, driving up the atmosphere of the asphalt market.
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In terms of cost and crude oil: although it is worried that the increase of interest rates in Europe may affect economic growth, the demand of Indian refineries has reached a record high, and the economic data of China is improving, and the international oil price continues to rise. NYMEX crude oil futures 04 contract 78.16 rose 0.47 US dollars/barrel or 0.60%; ICE oil distribution futures 05 contract 84.75 rose 0.44 US dollars/barrel or 0.52%. The cost side is good for the domestic oil industry chain.
Comparison chart of crude oil and asphalt price trend of the business community:
On the supply side, Guangzhou Petrochemical, Wenzhou PetroChina and Alpha will resume production of asphalt. It is expected that Kaiyi will resume production next week, and the supply will continue to increase. This week, the operating rate of major asphalt manufacturers remained at about 30%, and the supply side was temporarily short.
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On the demand side, the temperature is gradually rising, and some terminal projects have been started in succession, but the rainfall range in the south has increased, and the demand performance is tepid, mainly based on the demand for goods preparation and warehousing.
According to the future forecast, the temperature in various regions will gradually warm up, but the rainfall weather in the south will increase. It is expected that the demand will not be warm and tepid, and the demand for goods will still prevail. The asphalt analysts of the Business Agency expect that the short-term domestic asphalt market will be dominated by shocks.
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