SunSirs: "Break the Deadlock", China Asphalt Market Declined by a Narrow Margin in October

https://www.chemnet.com   Nov 01,2022 SunSirs

　　In October, the domestic asphalt market rose first and then fell, with the overall narrow range declining. According to the monitoring data of SunSirs, the spot price of domestic asphalt at the beginning of the month was 4,480 RMB/ ton, and the domestic asphalt market price at the end of the month was 4,446 RMB/ ton. The price fell by 0.77% in the month, with the maximum amplitude of 1.14%, up 24.83% year on year.

　　At the beginning of October, the domestic asphalt market price fluctuated and fell, mainly due to the supply and demand. The increase in supply and the weak demand led to a slowdown in the overall demand enthusiasm.

　　In the first ten days of October, the domestic asphalt market was mainly reorganized, and the prices in some regions fell by a narrow margin. The main reason for the low price is that the demand is gradually ending, while the domestic asphalt supply remains high, and the contradiction between supply and demand is further prominent.

　　At the end of October, the domestic asphalt market price continued to fluctuate downward. The demand is weak, and the refinery actively reduces the price. However, the rise of international crude oil has a certain support for the cost side, but weak demand has a certain suppression on the market.

　　At present, the supply is sufficient and the demand is average. SunSirs asphalt analysts expect that the short-term China domestic asphalt market is mainly narrow.

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