On May 14, the main contract of petroleum asphalt 2106 settled 3014 RMB/ton, down 136 RMB/ton compared with the previous working day price, down 5.9%. The sharp decline of international crude oil led to the weakening of market sentiment, some of the current resource offers increased, the market to take goods enthusiasm slowed down, asphalt futures fell sharply. According to the monitoring data of the SunSirs, as of May 14, the average spot price of domestic asphalt was 3233 RMB/ton, up 4.53% month on month and 46.80% year on year. In the short term, the domestic asphalt spot market is still dominated by consolidation shocks.
In terms of asphalt spot market, the start-up of domestic refineries has decreased significantly, while the downstream demand has gradually recovered, and the domestic petroleum asphalt inventory has decreased. The domestic asphalt market mainly maintains a stable trend, and the macro aspect drives the futures price to be firm, which has a certain support for the forward contract of refineries. However, the overall demand for spot fundamentals is general, and the power of spot price rise is limited.
The overall supply of the short-term asphalt spot market has increased, but the actual demand is blocked due to the rainy weather in the south, and the overall demand recovery in the north is limited, so it is difficult to open the demand. SunSirs asphalt analysts expect the asphalt spot market short-term consolidation.
