SunSirs: Driven by the Rise of Petrochemical Prices, China Domestic Asphalt Market continues to Rise

　　The asphalt price of some main refineries of Sinopec increased by 50-80 RMB/ ton. According to the monitoring data of SunSirs, from September 17 to 24, the average spot price of domestic asphalt increased from 3,465 RMB/ ton, to 3,512 RMB/ ton. During the cycle, the price increased by 1.36%, 3.70% month on month and 50.25% year-on-year.

　　Domestic spot asphalt prices rose and fell, and the price difference between North and South gradually expanded. In terms of regions, the price rise in East China, South China and southwest China is obvious, which is mainly driven by the price increase of Sinopec, including the price increase of 70 RMB/ ton in East China and 80 RMB/ ton in South China and southwest China; However, prices in North China and Shandong fell, mainly due to the impact of rainfall and weather, coupled with the outflow of low-cost resources from futures and spot, and the low-end price of the market fell.

　　In the short term, the overall supply is expected to pick up slightly. On the demand side, rainfall has a certain obstacle to demand, but the demand for goods preparation before the National Day is expected to increase, or drive the market demand to improve slowly. SunSirs asphalt analysts expect that China domestic asphalt market will maintain a narrow range in the short term.