Date WTI Brent Dubai Oman Daqing Victory

2008-8- 1 1 1 14.45 1 12.67 1 13. 19 1 13.70 1 13.3 1 104.03

2008-8- 12 1 13.0 1 1 1 1. 15 1 10. 15 1 10.70 1 10.00 100.57

2008-8- 13 1 16.00 1 13.47 109.60 1 10.20 1 10.04 100.50

2008-8- 14 1 15.0 1 1 12.64 1 1 1.95 1 12.50 1 13.79 103.84

Average price this week114.612.48311.22311.7756544.

Average price of last week119.79518.317.85318.2165438.

Price difference-5.177-5.827-6.63-6.435-6.738-6.293

This week, the market is worried that the economic slowdown will suppress global demand, and the strength of the US dollar will reduce the attractiveness of crude oil investment. The international oil price continued its previous decline and fell all the way to $65,438 +0 10. However, according to the report of the US Energy Agency, the US gasoline inventory fell sharply last week, and the oil price staged a "Wednesday phenomenon" and rebounded, but the market mentality did not look at it, and then it failed again under the pressure of a strong dollar.

The average contract price of WTI crude oil futures this week was 1 14.6 18 USD/barrel, down 5. 177 USD/barrel, or 4.32%, while the average contract price of Brent crude oil futures was112.42.

Market prospect outlook:

After the oil price fell for three consecutive trading days this week, the rebound stimulated by the US inventory report was only a flash in the pan. Concerns about demand and the rise of the US dollar index have caused oil prices to fall by more than 30 dollars in the past month. Even the news that Russia, a big oil-producing country, has participated in the war has failed to substantially stop the continuous decline of oil prices, and the international oil price 1 10 is in jeopardy.

At present, bearish views are flooding the market, oil prices are falling again and again, market sentiment is even colder, and fundamentals lack favorable support to boost oil prices. The continued strength of the US dollar has greatly reduced the attractiveness of crude oil as an investment product, while the recent decline in oil prices has made the market more bearish on the future trend of oil prices.

The continuous strengthening of the US dollar has laid a solid foundation for the decline of oil prices, and the inverse relationship between international crude oil prices and US dollars settled in US dollars has been interpreted again in the near future. The expectation that the economy will continue to slow down makes the market's expectation of falling demand more firm.

Asphalt market

Summary of international asphalt market

Due to the high price of Middle East asphalt, and after the quality turmoil in 2006, a considerable number of car owners are still unwilling to use Middle East asphalt because of their distrust of quality, which makes the proportion of Middle East asphalt in the total amount of imported asphalt less than 1% in the first half of 2008, and it is still difficult to "exert its fist" in the China market.

According to customs data, the asphalt imported from the Middle East in the first half of the year was about 2 170 tons, accounting for only 0. 13% of the total, while in 2006, the last year when Middle East asphalt was active in the China market, it accounted for about 4.8% of the total imported asphalt. Judging from the composition ratio, most of the asphalt in the Middle East was small-scale trade in 2008, with only one ship on the scale, which was about 1 000 tons of Saudi asphalt imported by an importer in southwest China in June.

Some domestic traders who used to run Middle East asphalt think that price is the biggest threshold to prevent Middle East asphalt from entering the China market, relative to the brand preference of the owners.

According to traders' information, the F.O.B. price of asphalt from Iranian suppliers has reached 550-570 USD/ton at the beginning of this week, and the cost of transportation to China will be between 575-600 USD/ton. Moreover, during this period, the spot CIF price of South Korea in East China is only about $520/ton, and the price difference of more than $50/ton makes it difficult for China buyers to accept Middle East asphalt.

On the other hand, South Korean SK reduced its supply to the China market in August. Some agents first thought of using Middle East asphalt to make up the gap, but they couldn't find a suitable source at all. "In our impression, the price of Middle East asphalt used to be more advantageous, but now it is higher than that of any major source, so we gave up the idea of buying Middle East goods," said the agent.

According to customs data, the CFR of Saudi asphalt purchased by southwest importers is about $406/ton. After deducting the freight of $25/ton, the FOB price is only $380/ton. "Originally, we signed a quantity of 5,000 tons, and the price was favorable at first, but after the implementation of 1000 tons, the price soared, even exceeding the FOB price of some mainstream Singaporean goods, so the importer revealed that" the price of asphalt in the Middle East is higher than that in East Asia, and the seller also said that it can be exported to some Middle Eastern countries such as Bahrain, so it is unnecessary to sell it to China at a low price ",and the importer further revealed the reasons.

In addition, the owner's preference is also the reason why Middle East asphalt is difficult to turn over. "Although we are liberalizing the brand in principle, we still don't trust Middle East asphalt. It is estimated that the asphalt in the Middle East is still difficult to return to the expressway market in the short term, "said the owner of a expressway in South China. It is understood that Saudi asphalt imported by the former southwest importer is also used for the construction of a local municipal project.

Although the prices of crude oil and fuel oil have fallen sharply, the strong demand for asphalt in Southeast Asia has driven the price of asphalt in Singapore to rise sharply and hit a record high. Therefore, the ratio of asphalt to fuel oil also reached 0.8, which was last seen in February 2008. According to past experience, 0.82 is a reasonable ratio of asphalt to fuel oil, so the current asphalt price is already in a relatively reasonable range. Although the fuel oil market is bearish at present, Singapore refineries generally believe that asphalt prices are expected to go out of the independent market and remain in the range of 520-540 USD/ton, driven by demand.

In the past week, domestic East China heavy traffic asphalt and domestic 250 fuel oil remained basically unchanged, so the price difference between them remained at the level of -300 yuan/ton. At present, the price of fuel oil is much higher than that of asphalt, so refineries are more willing to produce fuel oil. However, considering the serious bearish atmosphere of fuel oil in August, it is expected that the price difference between them will be narrowed at the end of August, but it is expected that the price difference will still be around -200 yuan/ton to -250 yuan/ton when the demand for asphalt has not been released.

It is reported that due to the different demand, Southeast Asia asphalt and East Asia asphalt show completely different trends. In Southeast Asia, due to strong demand from Indonesia, Vietnam and Malaysia, the price of asphalt in Singapore has risen sharply. Taking valuation as an example, the transaction price of Singapore asphalt FOB delivered at the end of August is about 520-530 USD/ton, up 7 USD/ton from last Friday.

A trader in Singapore pointed out that despite the recent drop in crude oil prices, Singapore's asphalt prices hit a new high this year with the support of demand. "Our demand mainly comes from Southeast Asian countries. Last weekend, the FOB price of a ship of asphalt we sold reached more than $533/ton. Despite the decline in crude oil, the demand is still strong, and we expect the price to stabilize at the level of 530-540 USD/ton, "the trader pointed out.

However, the sluggish market demand in China has led to a continuous decline in some spot prices in South Korea. Take the valuation as an example. At present, the CFR transaction price of Korean asphalt in East China is about 505-5 15 USD/ton, which is significantly lower than last Friday. Although South Korean refineries generally reduced supply in August, the spot price in South Korea was also under pressure due to the strong dependence on the China market and the sluggish demand and the decline of domestic asphalt. "Although the current CIF price is generally around USD 565,438+00/ton, we are unwilling to accept the goods because the profit margin is too small," a trader in East China pointed out.

On the other hand, due to the sharp drop in the arrival of imported asphalt in August and the high price of fuel oil, the freight rate has also decreased. At present, the freight rates from Singapore and South Korea to Shanghai can be about 67-70 US dollars/ton and 30-34 US dollars/ton, which are down by 8 US dollars/ton and 6 US dollars/ton respectively from the beginning of the month. Moreover, the quantity of imported asphalt has not recovered, and it is expected that there is still room for downward adjustment. "in August,

Affected by the sluggish demand in the domestic asphalt market and stagnant domestic asphalt prices, the CIF price of asphalt in Southeast Asia also began to fall. Taking the valuation as an example, the CFR price of asphalt in East China of Singapore and Thailand can be traded at 535-575 USD/ton, which is slightly lower than that at the beginning of the week by 5 USD/ton. At present, the CIF price of asphalt in Southeast Asia is much higher than that of domestic asphalt, so the spot market is basically not competitive, and most of the goods are purchased by traders in order to supply the contracts that won the bid in the early stage. However, a Singapore asphalt importer said that with the recent decline in crude oil, the FOB prices of some contracts shipped at the end of August also declined. "The F.O.B. price given to us by the Singaporean refinery is around $500/ton, but this is only for the China market," said the importer.

The sluggish domestic demand has also put considerable pressure on spot imported asphalt. A trader in East China said that there is not much supply at present and the transaction volume is very low. "On the one hand, foreign refineries have reduced the supply to China to varying degrees, but considering the low domestic demand and the impact of domestic asphalt, people are reluctant to accept goods at high prices. At present, the CIF price of Korean asphalt in East China is also concentrated at around 5 10 USD/ton. "

News of imported asphalt ship

Name of ship from to quantity (ton) quality arrival date to berth

On the 4th, Janicia, 3300 Esso imported asphalt from Dongguan, Singapore, and arrived in Taihe, Dongguan on August 15.

Cif bulk imported asphalt

Dollar/ton

Origin 2008-8-112008-8-12 2008-8-15.

South China of Singapore 530-565 530-575 530-565 530-565 530-565 530-565

East China 535-575 535-585 535-575 535-575 535-575 575

North 535-575 535-585 535-575 535-575 535-575 535-575

Southern China, Thailand 525-555 530-570 530-560 530-560 530-560 530-560.

East China 530-565 535-580 535-570 535-570 535-570 535-570

North 530-565 535-580 535-570 535-570 535-570 535-570

Taiwan Province South China 507-517 507-517 507-517 507-517 507-565438.

East China 508-523 508-523 508-523 508-523 508-523

North 508-523 508-523 508-523 508-523 508-523 508-523

South Korean China 519-529 514-524514-524514-524514-5245.

East China 510-520 505-515 505-515 505-515 505-565438

Bei 510-520 505-515 505-515 505-515 505-5/kloc-0.

Middle East (Barreled) South China 425-445 425-445 425-445 425-445 425-445 425-445

East China 430-450 430-450 430-450 430-450 430-450 430-450

North 430-450 430-450 430-450 430-450 430-450 430-450.

FOB imported asphalt in bulk

Dollar/ton

Region 2008-8-112008-8-12 2008-8-15.

Singapore 513-523 520-530 520-530 520-530 520-530.

Thailand 505-515510-520510-520510-520510-520.

Taiwan Province Province 498-508 498-508 498-508 498-508 498-508 498-508

South Korea

Middle East (barreled) 500-540 500-540 500-540 500-540 500-540 500-540

Freight valuation of imported asphalt ship

Airline 2008-8-112008-8-12 2008-8-15.

Korea-Huangpu 46.0-48.0 40.0-42.0 40.0-42.0 40.0-42.0 40.0-42.0

Korea-Shanghai 36.0-40.0 30.0-34.0 30.0-34.0 30.0-34.0 30.0-34.0

Singapore-Huangpu 58.0-62.0 50.0-54.0 50.0-54.0 50.0-54.0 50.0-54.0

Singapore-Shanghai 75.0-78.0 67.0-70.0 67.0-70.0 67.0-70.0

Taiwan Province Province-Shanghai 35.0-37.0 35.0-37.0 35.0-37.0 35.0-37.0 37.0

Taiwan Province Province-Huangpu 32.0-33.0 32.0-33.0 32.0-33.0 32.0-33.0 32.0-33.0

Domestic asphalt market:

The performance of northeast asphalt market is flat. It is understood that asphalt manufacturers are mainly supported by contract customers, and the demand still comes from the transportation departments of the three northeastern provinces. The mainstream transaction is concentrated at 4400-4550 yuan/ton.

North China In North China, the demand for asphalt market is light, and most asphalt production enterprises have stopped production, so the business strategy of on-demand production is adopted. At present, the inventory of PetroChina Qinhuangdao heavy traffic asphalt in this area is about 3,000 tons, and the manufacturer will implement the measures of fixing production by sales in the third quarter to cope with the current sluggish demand for asphalt during the Olympic Games in North China. Some traders and refineries expand their sales network to markets outside the province, and the northwest region is their first choice.

South China Market In South China market, the ex-factory price of re-delivered asphalt this week is around 4350-4450 yuan/ton, and the market demand is still low. As of this Friday, affected by the price adjustment of Sinopec Shanghai Sales Branch, the prices of its refineries Maoming Petrochemical and Guangzhou Petrochemical both fell by 100 yuan.

This week, the ex-factory transaction price of heavy asphalt in Jiangsu, Zhejiang and Shanghai markets remained stable at 4300-4400 yuan/ton, and refinery shipments rose slightly, but the overall demand was still at a low level. The falling prices of crude oil and fuel oil put pressure on asphalt prices. Affected by the price adjustment of Shanghai Sales Branch, the price of Zhenhai Refining and Chemical fell by 50 yuan. The refinery prices of CNOOC and PetroChina are temporarily stable. Some refinery people said that many refineries may be worried that the falling effect of crude oil will be transmitted to asphalt, so they all hope to increase shipments at the existing price level, but they will not sell at no cost.

Shandong market Shandong market continues to be depressed, and the demand atmosphere is still deserted.

At present, the northwest market is in the construction peak season, and the Sichuan market is also the main sales target in the northwest. Considering the post-disaster reconstruction, traders are more active in stocking. At present, the transaction price of heavy traffic asphalt in China is still stable at 4300-4500 yuan/ton.

Refinery dynamics:

Refinery name 2008-8-112008-8-12 2008-8-15 compared with the previous trading day.

Karamay heavy traffic asphalt Xinjiang 4900 4900 4900 4900 4900 4900 4900 4900 0

Heavy traffic asphalt in Karamay outside Xinjiang 4,450 4,450 4,450 4,450 4,450 4,450 4,450 0.

Karamay ordinary highway asphalt 4,850 4,850 4,850 4,850 4,850 4,850 0.

Karamay ordinary highway asphalt 4400 4400 4400 4400 4400 0.

Xi 'an Petrochemical Company 90#A grade reconnection 4,650 4,650 4,650 4,650 4,650 0

Xi 'an Petrochemical Company's 90#B grade reconnection 4,650 4,650 4,650 4,650 4,650 0

Xi 'an Petrochemical Company 100# Ordinary Asphalt 4,550 4,550 4,550 00

Tahe Petrochemical AH-90 Heavy Asphalt 4,200 4,200 4,200 4,200 4,200 4,200 4,200 0

The asphalt of ordinary road in Tahe Petrochemical Company is 4 1004, 1004, 1004, 1000 0.

Xinjiang Jinshi SBS modified asphalt 5650 5650 5650 5650 5650 5650 5650 5650 0

Xinjiang Jinshi SBR modified asphalt 5,250 5,250 5,250 5,250 5,250 5,250 5,250 0.

Northwest: This week, the refinery price was stable and the production was normal. At present, Xi 'an Petrochemical Company (90#) heavy asphalt is listed at 4650 yuan/ton, and the contract price of automobile transportation and fire transportation in the region is 4500 yuan/ton. The contract price of fire transportation outside the area is 4500 yuan/ton, and the VIP price is 4450 yuan/ton. 100# The listing price of ordinary road asphalt is 4550 yuan/ton, the contract price of automobile transportation and fire transportation is 4400 yuan/ton, the contract price of fire transportation outside the area is 4350 yuan/ton, and the VIP price is 4300 yuan/ton. According to the refinery news, the daily output of asphalt in this factory is 1000 tons/day, and the sales volume is average. The price of asphalt re-delivered by Karamay Refinery is 5,000 yuan/ton, 4,980 yuan/ton in Xinjiang and 4,630 yuan/ton outside Xinjiang. 100# The price of ordinary road asphalt is 4950 yuan/ton, 4930 yuan/ton in Xinjiang and 4580 yuan/ton outside Xinjiang. There are other discounts on this deal. It is understood that the daily output of asphalt in Karamay, Xinjiang is about 1000 tons, mainly producing heavy traffic asphalt. The inventory of 100 # road asphalt is endless, and the overall shipment is normal. Tahe Petrochemical AH-90 heavy-duty asphalt is quoted at 4,200 yuan/ton, and there are other preferential transactions, about 4,000 yuan/ton in Xinjiang and 3,950 yuan/ton outside Xinjiang. 100# The listing price of ordinary road asphalt is 4 100 yuan/,100# The turnover of automobile transportation in Xinjiang is 3,900 yuan/ton, and the turnover of railway transportation outside Xinjiang is 3,850 yuan/ton. It is reported that the factory currently mainly produces 100# ordinary road asphalt, with a daily output of about 800 tons, and its inventory is at a medium-high level. Heavy asphalt consumes inventory, and the sales volume is average.

Refinery name 2008-8-112008-8-12 2008-8-15 compared with the previous transaction.

Zhonghai Sichuan 5030

5030 5030 5030 5030 0

Southwest: This week, the listing of Zhonghai Sichuan Heavy Traffic Asphalt held steady at 5030 yuan/ton. The price of SBS modified asphalt is 6500 yuan/ton, and the transaction is favorable. It is understood that the transaction price is 4950-5000 yuan/ton. According to people in the refinery, the factory uses small batch production, with a daily output of 300-400 tons. Due to the influence of resources outside the province, the overall sales volume is average.

Refinery name 2008-8-112008-8-12 2008-8-15 compared with the previous transaction.

Liaohe Petrochemical Heavy Traffic Asphalt 4,750 4,750 4,750 4,750 4,750 4,750 4,750 0

Panjin Beili Heavy Traffic Asphalt 4700 4700 4700 4700 4700 4700 0

Qinhuangdao Heavy Traffic Asphalt 4700 4700 4700 4700 4700 4700 4700 4700 0

North burned heavy traffic asphalt 4,700 4,700 4,700 4,700 4,700 4,700 4,700 4,700 0.

Panjin Taiping River 90# Heavy Traffic Asphalt 4,750 4,750 4,750 4,750 0

Northeast China: Refinery prices are stable this week. The listing price of heavy-duty asphalt in Liaohe Petrochemical Company is 4750 yuan/ton, the contract price of major customers is 4500 yuan/ton, and the general contract price is 4550-4750 yuan/ton. The transaction is favorable. Same as last week. The daily output is 3400 tons, and the main supply contract is stable. Panjin Beiyu (No.4) switched to asphalt production, and the price stabilized. At present, the price of road asphalt is 4700 yuan/ton, and the transaction is favorable. The main supply contract fuel oil is 4800 yuan/ton. Due to the expansion of Panjin Taiping River factory, asphalt production stopped. It is estimated that the production will be stopped for about two months, and the inventory is unlimited, so the external quotation will be suspended. The listing price of PetroChina Qinhuangdao heavy traffic asphalt is 4700 yuan/ton, and the contract price is 4650 yuan/ton, which is a big discount. It is reported that the asphalt plant of the plant stopped production, and the asphalt consumed inventory, and the inventory was sufficient. Master supply contract.

Jiangsu, Zhejiang and Shanghai 2008-8-1kloc-0/2008-8-12 2008-8-15 compared with the previous trading day.

Zhenhai Petrochemical 70#A Class Reconnection 4700 4700 4700 4700 4700 4700 4700 4700 4650 50

Zhenhai petrochemical AH-70/AH-90 reconnection 4,650 4,650 4,650 4,650 4,650 50

Shanghai Petrochemical 70#A Grade 4600 4600 4600 4600 4600 4600 4600 0

Shanghai Petrochemical 70#B Grade 4600 4600 4600 4600 4600 4600 4600 0

China Shipping Taizhou Heavy Traffic Asphalt 4,730 4,730 4,730 4,730 4,730 4,730 4,730 0

Ningbo Daxie Heavy Traffic Asphalt 4,550 4,550 4,550 4,550 4,550 0

Wenzhou CNPC fuel 70# reconnected 4,450 4,450 4,450 4,450 4,450 4,450 4,450 0.

Xingneng Heavy Traffic Asphalt 4600 4600 4600 4600 4600 4600 0

Jiangsu, Zhejiang and Shanghai: Zhenhai Refining and Chemical Company reduced the price of asphalt by 50% on Friday (15). After the price reduction, the manufacturer listed 70#A grade heavy asphalt at 4650 yuan/ton, AH-70 and AH-90 heavy asphalt at 4600 yuan/ton, and the contract price of modified asphalt was 5800 yuan/ton. It is understood that the transaction price of heavy asphalt in this factory can be around 4420-4470 yuan/ton, and the transaction price of fire transportation is around 4320-4370 yuan/ton. At present, the daily output of this factory is about 1300 tons, and the daily shipment is about 1000 tons. The price of China Shipping Ningbo Daxie was stable this week, and the manufacturer's A-class heavy asphalt truck (in the province) quoted 4450 yuan/ton. As the manufacturer's current supply is mainly in the province, there is no quotation outside the province, and the asphalt continues to digest the inventory, which is about 6,543,800 tons, and the price may be adjusted next week. This week, the listing price of asphalt in Taizhou, China Shipping Co., Ltd. is 4730 yuan/ton, and the contract price is 4530 yuan/ton, which is a large quantity discount. The asphalt digestion inventory of this factory is more than 20,000 tons, and the daily shipment is about 1000 tons. It is reported that the turnover of asphalt in this factory is about 4400-4500 yuan/ton. According to refinery sources, Sinopec's price reduction has no effect on it. PetroChina Xingneng Heavy Asphalt (70#) quoted 4600 yuan/ton, and the transaction was otherwise favorable. It is reported that the transaction is 4350-4400 yuan/ton. According to refinery sources, the daily output of asphalt in the plant is about 500-600 tons/day, with median inventory and normal sales. Wenzhou CNPC continued to offer 4450 yuan/ton for its 70# and 90# heavy traffic asphalt, and the actual transaction was otherwise preferential. It is reported that the transaction is 4300 yuan/ton. It is understood that the manufacturer's current factory continues to produce asphalt with a daily output of 500,000 tons. Jinhai Hongye (Zhenjiang) Petrochemical Co., Ltd. quoted 4450 yuan/ton for 70# and 90# heavy traffic road asphalt, and the transaction price was 4400 yuan/ton. According to refinery sources, the 5438+05 plant began to produce residual oil in June, and it is expected to produce finished products this weekend, and asphalt will continue to consume inventory. It is reported that the inventory is small and the shipment is dull.

Refinery name 2008-8-112008-8-12 2008-8-15 compared with the previous trading day.

China Shipping Asphalt Grade A heavy traffic asphalt 4,750 4,750 4,750 4,750 4,750 4,750 4,750 4,750 0.

China Shipping Asphalt Grade B heavy traffic asphalt 4,750 4,750 4,750 4,750 4,750 4,750 4,750 4,750 0.

SBS Modification of CNOOC Asphalt

Weifang Hongrun -904, 7004, 7004, 7004, 7004, 7004, 7000 0

Jinan Refinery 100# Ordinary Asphalt 4,650 4,650 4,650 4,650 0

Qilu Petrochemical 90# Heavy Traffic Asphalt 4,700 4,700 4,700 4,700 4,700 4,700 4,700 0

70# and 90# of Binyang Fuel Chemical Co., Ltd. reunited 4,800 4,800 4,800 0.

In Shandong: As of this week, China Shipping Binzhou has resubmitted the listing price of asphalt of 4750 yuan/ton and the contract price of 4650-4700 yuan/ton. The price of modified asphalt is 5950 yuan/ton, and the transaction is favorable. According to the refinery news, the daily output of the manufacturer is about 1000 tons, and the inventory is low. During the shutdown and maintenance of Binyang Petrochemical Company's asphalt plant, the asphalt inventory was endless, and the manufacturer had no asphalt production plan in August. Shandong Weifang Hongrun heavy traffic asphalt price is stable at 4700 yuan/ton, with other favorable transactions. It is reported that the transaction is around 4450-4500 yuan/ton. According to the refinery news, the factory produces asphalt in small batches, with a daily output of about 1000. Qilu Petrochemical's asphalt production is intermittent. According to refinery sources, the manufacturer's production plan for heavy asphalt in August is about 20,000 tons, but according to the current market demand analysis, the actual output may be much lower than the planned output. Heavy traffic asphalt is quoted at 4500 yuan/ton. According to traders, the transaction price of heavy asphalt delivered by manufacturers is about 4450-4550 yuan/ton.

Refinery name 2008-8-112008-8-12 2008-8-15 compared with the previous trading day.

Maoming Petrochemical Grade A heavy traffic asphalt 4,650 4,650 4,650 4,650 4,550100

Maoming Petrochemical Grade B Heavy Traffic Asphalt 4550 4550 4550 4550 4550 4550 4450100

Guangzhou Petrochemical AH-70 Heavy Traffic Asphalt 4,550 4,550 4,550 4,550 4,450100

Guangzhou Petrochemical AH-90 Heavy Traffic Asphalt 4500 4500 4500 4500 4400 100

Petrochina is rich in ah-7046505089.19999999995

Petrochina is rich in ah-90465045045.5998999995

South China: At present, PetroChina Gaofu has stabilized the price of heavy asphalt, with the listing price of 4650 yuan/ton and the contract of 4450-4550 yuan/ton. At present, the factory still has a set of asphalt production equipment, and its daily output exceeds 1 000 tons. Traders revealed that the inventory pressure of refineries is still relatively high, and there is still room for price reduction in the short term. Affected by the price adjustment of Sinopec Shanghai Sales Branch, Maoming Petrochemical lowered its price 100 on Friday (15). After price adjustment, the ex-factory price of 70# heavy traffic asphalt is 4450-4550 yuan/ton. It is reported that the transaction price of 70#A heavy traffic asphalt is 4,400 yuan/ton, and the fire transportation is 4,350 yuan/ton. At the same time, influenced by the price adjustment of Sinopec Shanghai Asphalt Sales Branch, Guangzhou Petrochemical lowered the price 100. After the price adjustment, the ex-factory price of AH-70 and AH-90 heavy traffic asphalt was 4,450 yuan/ton, the ex-factory price was 4,300 yuan/ton, and the turnover outside the province was 4,250 yuan/ton. According to the refinery news, the daily output of asphalt is about 250 tons, the inventory is general, and the overall shipment is stable.

General situation and prospect of domestic asphalt market

It is reported that Sinopec 18 refineries held a seminar on self-selling products in Wuhan. The conclusion at that time should be to increase the prices of all products, and at the same time adjust the crude oil processing capacity, and then adjust the product output. Market participants said that the current crude oil price has no favorable support, and the most critical demand is still relatively low. If asphalt pushes up the price, it will be more passive. If the prices of other products are raised, it will be a support for the stability of asphalt prices. In addition, reducing the processing capacity of crude oil, thereby reducing the output of refined oil, will also play a supporting role in the stability of asphalt prices.

It is also known that Sinopec lowered the prices of refineries in East China and South China last Friday. A person from a large refinery in East China said that there is an intention to follow suit, but the specific implementation plan will not be finalized until next week. According to the source, the difference between direct price reduction and disguised price reduction is nothing more than actual transaction, but the specific implementation plan has not yet been determined. The source also said that in the current market situation, price reduction can not stimulate too much demand, but only the maintenance of contract households.

The domestic asphalt market demand is still sluggish, and the recent decline in crude oil has led to a large room for refinery price reduction. We expect that the asphalt price will remain stable in the coming week, but we do not rule out the possibility of a slight decline in some areas.