On May 26, the settlement of 2106, the main contract of petroleum asphalt, was 3178 RMB/ton, 8 RMB/ton higher than that of the previous working day. The market continued to pay attention to the negotiations between the United States and Iran on the nuclear issue. In addition, the severe epidemic situation in some countries also made traders cautious to enter the market, and the international oil price rose slightly. According to the monitoring data of SunSirs, as of May 26, the average spot price of domestic asphalt was 3283 RMB/ton, with the price rising 5.80% on month, and 49.07% year on year.
The slight increase in international crude oil prices has a certain impact on boosting the market. The supply in the northern region is relatively stable. Near the end of the month, some refineries mainly execute expired contracts, and the overall turnover of the market is general; Due to the impact of rainfall in some areas of southern China, the demand of downstream terminals is poor, and most of them purchase on demand.
Crude oil mainly fluctuates in a narrow range, and some expired contracts will be delivered in a centralized way. SunSirs asphalt analysts expect that the asphalt spot market will be dominated by short-term consolidation.
