SunSirs: China Asphalt Spot Market Continues to Strengthen

　　The price of asphalt in some areas of Sinopec increased 100 yuan / ton in Shandong and 50 yuan / ton in South China, while the price in other areas remained stable. According to the monitoring data of SunSirs, as of July 6, the average spot price of domestic asphalt was 3,480 yuan / ton, up 6.10% month on month and 45.76% year on year.

　　The closing price of asphalt futures was 3,550 yuan / ton, up 62 yuan / ton from the previous working day. The asphalt market is slightly strong. Affected by the expected factors of Sinopec’s price rise, the market moves up to the front high pressure level. The short-term crude oil maintains a strong shock trend. There is no obvious bad news on the spot side. The supply of goods is relatively concentrated. Although the demand is limited, the market is still waiting for the demand to pick up, and the forecast futures market maintains a strong shock trend.

　　The international crude oil is high and strong, and the decrease of the starting load of some refineries drives the supply downward. The overall resource concentration is slightly higher, and the market low-cost resources are limited. SunSirs asphalt analysts expect that China asphalt spot market will be relatively strong in the short term.