SunSirs: China Asphalt Market Fluctuates at a Low Level

According to the monitoring data of SunSirs, from October 29 to November 5, the average spot price of domestic asphalt fell from 3,562 RMB/ ton to 3,522 RMB/ ton. During the cycle, the price fell by 1.12%, the price fell by 0.40% month on month, and the year-on-year increase was 54.47%.
Spot prices in the domestic market rose first and then fell. In terms of regions, South China, southwest, northwest and northeast have the highest increase. In terms of regions, South China is mainly the cancellation of preferential quotations for individual refineries; In Southwest China, the price of Sinopec Sichuan Chongqing increased by 50 RMB/ ton, while in Northwest China, the price of gram refining increased, which led to the rise of market quotation. In Northeast China, the price increased due to the rise of resources outside the region. The prices of Shandong and North China have dropped, mainly due to the easing of tight supply in the market and the obvious decline of crude oil, driving the low-end price downward.
In the short term, in terms of supply, some main refineries in East China mainly produce intermittently, and individual refineries in North China reduce production slightly; From the demand side, the national cold wave weather will affect most parts of China from west to East and from north to south. The rainfall cooling weather will make the demand decline in a fault manner. SunSirs asphalt analysts expect that negative factors are shrouded, and China domestic asphalt market is weak and falling.