International oil price rises sharply, domestic asphalt price rises slightly

The international crude oil price fluctuated at a high level, the weather turned cold, and the asphalt demand of terminal road engineering remained low, but the international crude oil price rose sharply, and the cost side promoted the domestic asphalt price upward. According to the price monitoring data of the business association, the asphalt price was 2577 yuan / ton on February 5, up 1.68 yuan from the beginning of the week.


On the one hand, the extremely cold weather caused by the blizzard attack in the southeast of the United States has led to a rapid rise in fuel heating demand. Moreover, recently, the organization of Petroleum Exporting Countries and its allies (OPEC +) have continued to effectively promote production reduction, which has brought a good supply side environment to oil prices. Moreover, the sharp decline in US commercial crude oil inventories in the past two weeks has become a direct driver to stimulate the rise of oil prices. International crude oil prices rose sharply this week, with WTI crude oil up 8.91% and Brent crude oil up 7.81%.


Most refineries in Northeast and North China stopped production or changed production, the supply of asphalt decreased, and the market price remained stable. The demand for asphalt in East China is general. Refineries reduce the output of asphalt. Refineries in South China have stable production, stable demand release and stable market price. In Southwest China, the market supply was slightly tight, which led to the rise of the mainstream transaction price. In the near future, major asphalt refineries are mainly selling at stable prices, while asphalt prices are mainly supported by crude oil prices.


Analysts from business news agency believe that after the international crude oil price rises sharply, it is likely to maintain a high level, and it is less likely to continue to explore the high level. As the Spring Festival holiday is approaching, domestic asphalt demand is at a low level, and domestic asphalt price is expected to be mainly stable.