Price Trend
According to the price monitoring of business associations, the price of asphalt market fell in August. At the end of the month, the price of asphalt was 3,546 yuan/ton, which was 1.39% lower than that of 3,591 yuan/ton at the beginning of the month.
| Polyglutamic acid cosmetic grade |
II. Analysis of Influencing Factors
Products: The market demand of asphalt in August has not been significantly boosted. In addition, the price of asphalt in August has dropped steadily due to the fluctuation of international oil prices.
Industry Chain: In August, Sino-US trade relations fluctuated and global risky assets plunged. Despite the firm attitude of OPEC and other countries to reduce production and the boost of U.S. crude oil production and inventories, international oil prices showed a general trend of fluctuation and decline. The monthly decline of WTI international crude oil futures price was 4.78%.
| Polyglutamic acid agricultural grade |
Asphalt market: The demand of asphalt terminal improved in August, and the overall performance of the market was stable. The winter storage resources in Northeast China began to be centralized and released, resulting in a continuous decline in market prices, an increase in the construction of municipal terminal projects in Shandong and North China, and an improvement in the shipment of refineries. Refinery shipments in East China are still relatively smooth and inventory continues to be low. There is more rainfall in South China, and terminal construction is still limited. The construction of terminal projects in Southwest China has increased, and the demand for asphalt is relatively good. It has been reported that China will stop importing Marui crude oil, but it has not been confirmed. In August, the typhoon affected some construction projects, and international crude oil prices fell as a whole. Overall, in the traditional peak demand season, terminal demand performance in most areas is still poor, and domestic asphalt market prices have declined steadily.
3. Future Market Forecast
Lu Xingjun, an asphalt analyst at the business association, believes that the international crude oil market will be stable in September, but as the National Day approaches, the northern terminal project may face the risk of shutdown, and the price of asphalt is expected to remain stable in September.
| http://www.trimethylaceticacid.com |